MELBOURNE/WELLINGTON, March 1 (Reuters)- - Australian shares rose 0.4 percent on Tuesday shored up by the big banks and miners, after disappointing Chinese manufacturing data stoked hopes that Beijing would take further steps to boost growth. New Zealand shares rose 0.3 percent.
The S&P/ASX 200 index .AXJO rose 20.4 points to 4,901.3 as of 0235 GMT.
The top three banks were all up around 0.9 percent, while Australia and New Zealand Banking Group ANZ.AX rose 2 percent.
Among the miners, BHP Billiton (L:BLT) BHP.AX and Rio Tinto (L:RIO) RIO.AX both rose more than 2 percent, while Fortescue Metals Group FMG.AX and Whitehaven Coal WHC.AX rose 5 percent, with investors betting China's efforts to boost growth would lift demand for iron ore, coal and metals.
Gold miners shone after bullion prices touched a four-year high. Newcrest Mining NCM.AX jumped 5.9 percent.
Overall gains were capped as several companies traded without rights to their dividends, including heavyweight Telstra Corp TLS.AX , down 4.5 percent, and Bendigo and Adelaide Bank BEN.AX and Bega Cheese BGA.AX , both down more than 5 percent.
The market's biggest loser was law firm Slater and Gordon SGH.AX , which plunged 35 percent to a record low of A$0.375. It has lost over half its value since reporting a half-year loss on Monday and flagging it was in restructuring talks with its lenders. more individual stocks activity click on STXBZ
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 21.38 points to 6,252.25, tracking a positive lead from Wall Street.
The biggest gainers were Orion Health Group OHE.NZ , which added 3.6 percent and Auckland Airport AIA.NZ , up 2.6 percent.
Fletcher Building FBU.NZ , down 2.5 percent, was the biggest loser.