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SYDNEY, July 27 (Reuters) - Australian shares rose to their highest level in nearly a year on Wednesday as gains in commodity prices lifted resources stocks and soft inflation data boosted hopes of an interest rate cut, while New Zealand shares slipped. S&P/ASX 200 index .AXJO nudged up 2.2 points, or 0.04 percent, to 5,539.7 at the close of trade, its highest finish since Aug. 6, 2015.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 8.5 points, or 0.1 percent, to finish the session at 7,301.9.