* Graincorp top gainer on the benchmark
* CSL Ltd climbs to a record high
* NZ reverses course to end lower (Updates to close)
By Nikhil Subba
Nov 15 (Reuters) - Australian shares advanced on Friday, capping a second straight week of gains, as fresh signs of progress in the U.S.-China trade talks brightened the mood for risky assets.
The S&P/ASX 200 index .AXJO ended the session 0.9% higher at 6,793.70, capping a 1.04% weekly gain. The benchmark rose 0.6% on Thursday.
U.S. White House economic adviser Larry Kudlow said the world's two largest economies are getting close to a trade agreement, citing what he called "very constructive" discussions with Beijing. any increase in appetite for risky assets could be short lived, given the very fluid nature of the Sino-U.S. trade talks, according to a note issued by OCBC analyst Terence Wu.
The heavyweight mining sector .AXMM ended the session more than 1% higher, helped by an increase in iron ore prices. The sub-index marked its first weekly loss since the five days ended Oct. 18.
The world's largest miner BHP Group Ltd BHP.AX rose about 1.8% to close at its highest in over a week, while peer Rio Tinto (LON:RIO) Ltd RIO.AX gained about 1.2%.
Healthcare stocks .AXHJ climbed 1.25% to close at a record high, while marking their seventh consecutive week of gains, as CSL Ltd's CSL.AX 1.7% climb helped boost the sub-index. The heavyweight drugmaker ended the session at a fresh peak and provided the biggest boost for the sector.
Tech stocks .AXIJ maintained their winning streak for a seventh consecutive session, rising nearly 2% to make their biggest weekly gain since early August.
Index behemoth Wisetech WTC.AX closed about 1.8% higher while Afterpay Touch Group APT.AX ended 4.5% up.
The energy space .AXEJ inched up 0.7% as its components gained from a rise in oil prices on optimsm over a U.S.-China trade deal and on hopes that OPEC will curb supplies. O/R
Major oil and gas players Woodside Petroleum WPL.AX and Oil Search OSH.AX each gained about 0.6%.
Meanwhile, agribusiness company Graincorp GNC.AX finished 11.2% higher and was the biggest percentage gainer on the benchmark after Australia's competition regulator approved the takeover of the company's domestic bulk liquids terminals business by ANZ Terminals. regulatory obstacles had kept the deal on hold, delaying Graincorp's restructuring efforts.
New Zealand's benchmark S&P/NZX 50 index .NZ50 erased earlier gains to inch 0.04% lower, ending at 10,894.70.
Movie software developer Vista Group VGL.NZ fell 3.2% and was top loser on the New Zealand benchmark, followed by tourism company Tourism Holdings THL.NZ which declined almost 3% to a week's low.