Australian shares jumped 1.7 percent on Thursday, the biggest one-day percentage gain in seven months, as top banks and large miners jumped in the final trading hours of the financial year, boosted by short-covering and gains in oil, copper and gold. Top banks rallied, led by Westpac Banking Corp with a 2 percent gain to A$22.26, its highest close since May 20.
The New Zealand dollar powered to a post-float high against the greenback on Thursday, while the Australian dollar scaled a 26-year peak on sterling as investors piled into risk assets The benchmark S&P/ASX 200 index rose 78.52 points to 4,608.0, according to the latest data, its first close above 4,600 since June 1. In percentage terms, it was the best one-day rally since December 2. The index fell 4.8 percent for the quarter, its first quarterly fall since dropping 12 percent a year ago. For the year to June 30, the index rose 7.1 percent. New Zealand's benchmark NZX 50 index advanced 1 percent to 3,448.4.
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