SYDNEY/WELLINGTON, Feb 11 (Reuters) - Australian shares inched up 0.45 percent and away from 2-1/2 year lows on Thursday as some better earnings results helped brighten the mood after a couple of days of punishing selling.
The S&P/ASX 200 index .AXJO rose 21.62 points to 4,797.30 by 0245 GMT. The benchmark has taken a beating this week, sliding 4 percent in just two sessions for the worst such drop since August last year.
Wednesday's close had been the lowest since mid-2013 when the index troughed around 4,632.
Helping on Thursday was a bumper profit report from hearing device maker Cochlear Ltd COH.AX which surged 9.65 percent to an all-time high. It also raised forecasts for the year on the back of strong China sales and new U.S. customers. was generally well bid with that sector index up 2.2 percent.
Goodman Group GMG.AX was another gainer, rising 4.8 percent after reporting a 79 percent increase in profits.
New Zealand's benchmark S&P/NZX 50 index .NZ50 inched down on Thursday, losing 0.429 percent or 25.8 points to 5,993.680.
Sky City SKC.NZ was the biggest loser, falling 1.58 percent. The casino operator posted strong half-year earnings on Thursday but investors took profits as the result was largely in line with expectations and the stock had already benefited from guidance given by the firm in January. New Zealand Refining Company Limited NZR.NZ fell 1.12 percent after it announced the resignation of director Timothy Wall. infrastructure company Chorus CNU.NZ fell 0.8 percent, while telecommunications company Spark NZ SPK.NZ lost 0.9 percent.
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