Australian shares rebound

Australian stocks rebounded from a three-month low to finish up 0.5 percent on Tuesday after strong Chinese industrial production data outweighed fears about slightly higher-than-expected inflation. China's inflation accelerated in May to a 34-month high of 5.5 percent while industrial output rose 13.3 percent, both slightly above economists' expectations, but inflation was tamer than investors had feared.
Top miners BHP Billiton and Rio Tinto, which had both been down around 1.5 percent ahead of the Chinese data, turned around sharply, with Rio Tinto ending up 1 cent and BHP ending down 10 cents. The benchmark S&P/ASX 200 index gained 22.9 points to close at 4,585.0, according to the latest data. New Zealand's benchmark NZX 50 index rose 0.4 percent to close at 3,488.9, recovering all of Monday's losses.