Reuters: Hot Stocks: Australia shares close higher, investors bet on extended Fed stimulus

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Australia shares close higher, investors bet on extended Fed stimulus Oct 30th 2013, 05:17 Wed Oct 30, 2013 1:17am EDT SYDNEY Oct 30 (Reuters) - Australian shares tacked on 0.3 percent on Wednesday as investors bet the U.S. Federal Reserve will maintain its asset-purchase stimulus program - a major driver of global risk assets in recent years -- at least into early 2014. The S&P/ASX 200 index finished up 15.4 points at 5,430.9, hovering at five-year highs. The benchmark fell 0.5 percent on Tuesday, but has risen eight out of the previous ten sessions on relief from the end of the U.S. fiscal standoff and better-than-expected data from China. New Zealand's benchmark NZX 50 index rose 0.3 percent or 15.5 points to finish the session at 4,868.1. (Reporting by Thuy Ong; Editing by Shri Navaratnam)

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