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SYDNEY: Australian shares closed 0.7 percent higher on Wednesday, consolidating recent gains on hopes that European leaders would agree to beef up the region's financial rescue fund to contain the debt crisis.
The benchmark S&P/ASX 200 index gained 30.5 points to close at 4,292.5, recouping nearly half of Tuesday's loss.
New Zealand's benchmark NZX 50 index drifted down 0.3 percent to close at 3,283.0.
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