SYDNEY/WELLINGTON: Australian shares scaled a record high on Wednesday, as investors lapped up data that showed the country’s first-quarter economic growth came in better than expected and shrugged off concerns over fresh Covid-19 cases in Victoria.
The S&P/ASX 200, which has climbed to record highs a multiple times in recent sessions, closed 1.1% higher at 7,217.8. The benchmark ended 0.3% lower on Tuesday.
Miners, the biggest constituent on the Aussie benchmark, rose 2%, and were up for a fifth straight day due to firmer commodity prices.
Global miner Rio Tinto ended the session 2.1% higher, while rival BHP Ltd hit its biggest closing high since May 18.
Energy stocks tracked a jump in oil prices to close 4.1% higher in their best session since late February.
Oil and gas explorers Woodside Petroleum and Santos Ltd rose 4.6% and 6.5%, respectively, with the latter closing at its highest in nearly three months.
New Zealand’s benchmark S&P/NZX 50 closed 0.2% lower at 12,440.05.
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