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Australia bourse halts trading on 'data issues' after shares hit 8-mth high

Published 16/11/2020, 11:48 am
Updated 16/11/2020, 11:54 am
© Reuters.

* ASX cites investigation on 'market data issues'

* Buy-now-pay-later stocks subdued after regulator's report

* NZ index on track for a 10-session winning streak

Nov 16 (Reuters) - Trading on the Australian Securities Exchange was halted on Monday as the stock exchange operator cited "market data issues", shortly after shares touched their highest in more than eight months.

The S&P/ASX 200 index .AXJO gained 1.3% at 6,487.30, its highest since March 8. The index was riding high on vaccine optimism that offset worries about fresh lockdowns globally and helped most Asian markets start the week on firm ground. ASX equity market is currently paused and there is no trading while we investigate market data issues," ASX said https:// on Twitter without giving more details, but said it was working to rectify the issue as soon as possible.

Prior to the trading halt, financial stocks fuelled index gains, with the country's so-called "Big Four" banks trading up as much as 3%.

Fund managers Pendal Group PDL.AX and Challenger Ltd CGF.AX each added around 3%.

Brent crude LCOc1 futures rose 0.4%, boosting energy .AXEJ stocks. Papua New Guinea-focused Oil Search Ltd OSH.AX rose 3%, while sector heavyweight Woodside Petroleum WPL.AX added 1.2%.

A 0.2% rise in Chinese iron ore futures DCIOcv1 helped the index's heavyweight miners, with BHP Group Ltd BHP.AX adding 2.1% and rival Rio Tinto (LON:RIO) Ltd RIO.AX climbing 1.8%.

A spike in South Australia's new coronavirus cases, however, caused a neighbouring state to reimpose border controls and the federal government to offer help. stocks were subdued after the country's financial regulator published a long-anticipated report on the sector that showed one in five consumers were missing payments and some were facing financial hardship. leader Afterpay Ltd APT.AX eased 1.6% while Zip Co Ltd Z1P.AX lost 1.3%.

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New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 1.2% to hit a record high at 12,854.50, on track for its 10 consecutive session of gains.

Air New Zealand AIR.NZ was among top gainers with a 3.5% rise, while Ryman Healthcare RYM.NZ added 2.5%.

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