Reuters: Hot Stocks: Australia shares rise to 3-1/2 month closing high on upbeat China data

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Australia shares rise to 3-1/2 month closing high on upbeat China data Sep 10th 2013, 06:25 Tweet Share this Email Print Tue Sep 10, 2013 2:25am EDT (Updates to close) SYDNEY, Sept 10 (Reuters) - Australian shares rose 0.4 percent on Tuesday, as big miners were buoyed by upbeat economic data from their biggest export market China, while investors also became more optimistic for the domestic demand outlook after the federal election. Global miners BHP Billiton Ltd and Rio Tinto Ltd climbed 0.7 percent and 1.5 percent respectively. Domestic consumer stocks like JB Hi-Fi Ltd also had a better run, as investors are betting the newly elected business-friendly coalition government would restore stability to the market. The S&P/ASX 200 index added 19.7 points to 5,201.2, the highest close since May 20. The benchmark rose 0.7 percent on Monday. New Zealand's benchmark NZX 50 index rose 0.3 percent to 4,627.8. (Reporting By Maggie Lu Yueyang; Editing by Eric Meijer and Shri Navaratnam) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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