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March 16 (Reuters) - Australian shares ended higher for a third straight session on Thursday as gains in commodity prices boosted mining and oil stocks such as BHP Billiton (LON:BLT) and Rio Tinto (LON:RIO).
The S&P/ASX 200 index .AXJO rose 0.2 percent, or 11.8 points, to 5,785.8 at the close of trade.
BHP Billiton BHP.AX led the gains, surging 3.7 percent, its biggest percentage gain in more than two months.
Crude oil prices extended gains on Thursday from the previous session as U.S. stockpiles eased from record highs, while metals including iron ore and copper also rose, boosting sentiment. O/R
Iron ore miners Rio Tinto Ltd RIO.AX and Fortescue Metals Group FMG.AX gained 2.3 percent and 4.4 percent, respectively.
Meanwhile, the financial index .AXFJ ended 1.1 percent lower, dragged down by the "big four" banks which slid in the range of 0.3 percent to 2.4 percent.
The U.S. Federal Reserve raised interest rates on Wednesday for the second time in three months, but did not flag any plan to accelerate the pace of monetary tightening, a concern that had lingered among some market participants. issues outnumbered declining ones on the ASX 200 by a 1.2-to-1 ratio.
Five companies on the S&P/ASX 200 index posted 52-week highs, while two fell to one-year lows.
In New Zealand, the benchmark S&P/NZX 50 index .NZ50 rose 0.3 percent, or 20.69 points, to close at 7,151.99.
Statistics New Zealand said gross domestic product rose 0.4 percent in October-December from the previous three months. International Airport AIA.NZ was among the big gainers on the benchmark, closing 2.5 percent higher.