MELBOURNE: Australian shares rose 0.3 percent on Thursday as major miner BHP Billiton posted its biggest daily gain in 2 months and other stocks were boosted after retail sales beat expectations, though Woodside Petroleum gave up some of its recent gains.
Economic data showed Australia's retail sales beat forecasts with a rise of 0.5 percent in February, sending the Australian dollar to a fresh 29-year high.
The benchmark S&P/ASX 200 index rose 15.75 points to 4,837.9, according to the latest data, building on Wednesday's 1.4 percent gain.
New Zealand's benchmark NZX 50 index rose 0.2 percent to 3,439.85.
Woodside Petroleum dropped 2 percent to A$46.80 after it said late Wednesday it had no explanation for a recent sharp rise in its share price. The stock, which rallied sharply from below A$41 earlier this month, has been the subject of market speculation about a possible bid.
BHP rose 2.1 per cent to A$46.56.
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