Reuters: Hot Stocks: Australia shares surge to 3-1/2 mth high on upbeat China PMI, local data

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Australia shares surge to 3-1/2 mth high on upbeat China PMI, local data Sep 2nd 2013, 06:18 Mon Sep 2, 2013 2:18am EDT SYDNEY, Sept 2 (Reuters) - Australian shares rose 1 percent to its highest point in 3-1/2 months on Monday, as better-than-expected manufacturing data from Australia's top export market China and a rise in local building approvals boosted investor sentiment. The S&P/ASX 200 index rose 53.3 points to finish at 5,188.3, its highest mark since May 22. The benchmark rose 1.6 percent for August and finished 0.8 percent higher on Friday. New Zealand's benchmark NZX 50 index climbed 1.2 percent or 55.4 points to finish the session at 4,596.4. (Reporting by Thuy Ong; Editing by Shri Navaratnam)

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