SYDNEY: Australian shares registered their highest close in nearly three weeks on Monday, driven by gains among heavyweight financials, while a dip in new coronavirus infections in Victoria and renewed hopes of financial aid in the United States boosted risk sentiment.
The S&P/ASX 200 index was up 1.76% at 6,110.2 points at the end of trade.
The subindex for financial stocks soared 2.6% to its highest in over a week, with the 'Big Four' banks jumping in the range of between 2.8% and 3.5%.
Among other sectors, healthcare stocks were 1.7% higher, with CSL Ltd and Sonic Healthcare Ltd gaining 2.2% and 2.3%, respectively.
Mining stocks gained nearly 1%, with BHP Group and Fortescue Metals Group rising 1.4% and 2.1%, respectively.
Nearmap was among the top gainers on the benchmark index after brokerage Citi raised its price target on the company's stock.
New Zealand's benchmark S&P/NZX 50 index rose 0.3%, helped by gains among financials and consumer stocks.
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