Australian shares closed at their highest in over 21 months on Wednesday with financials leading the gains, helped by a rise in Commonwealth Bank of Australia shares after it reported robust half-year earnings. The S&P/ASX 200 index ended up 0.9 percent, or 53.86 points, at 5,809.1, its highest close since May, 2015.
The benchmark finished 0.1 percent lower on Tuesday, snapping 5 straight sessions of gains. Commonwealth Bank, Australia's biggest company by market value, reported a 2 percent rise in half-year cash profit, helped by home lending.
The stock finished at its highest in over a month, up 2.3 percent and helped push the financial index up 1.7 percent. The Commonwealth Bank's 'Big Four' peers rose in a range of 1.3 percent to 2.4 percent. New Zealand's benchmark S&P/NZX 50 index ended 0.4 percent, or 21.9 points, higher at 7,180.03. Gains were centred in financials and telcos. Westpac's NZ-listed shares and Spark New Zealand were among the biggest gainers, rising 2.5 percent each.
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