* Healthcare, financial stocks lift Australian benchmark
* Ansell ends 25% higher after co reiterates FY outlook
* China cuts interest rate on reverse repurchase agreements
(Updates to close)
By Nikhil Subba
March 30 (Reuters) - Australian shares rose 7% on Monday in their biggest single-day jump in history, as a stimulus package to invigorate the coronavirus-hit economy and a slowdown in the rate of daily infections spurred buying.
The S&P/ASX 200 index .AXJO closed 339 points higher at 5,181.40, recovering from a steep 5.3% fall on Friday.
Prime Minister Scott Morrison committed A$130 billion ($79.86 billion) to help save jobs as shockwaves from the virus pandemic rip through the economy. were asked on Sunday to further isolate themselves from the public to keep the virus from spreading even as authorities said the rate of daily infections has halved in recent days. COVID-19 data is actually starting to look better with the number of infections declining for four days in a row now," said Marc Kennis, principal of Pitt Street Research.
"So, that may have led to some optimism for certain sectors, like the banks, as it could mean that the lockdown may not be as long as some people had expected."
Meanwhile, the Chinese central bank unexpectedly lowered the interest rate on reverse repurchase agreements to 2.20% from 2.40%, as authorities stepped up easing measures to relieve pressure on the economy that has been hit hard by the epidemic. depends heavily on China's economic health as the Asian nation is its largest trade partner.
Healthcare stocks were the day's best performers, with the sub-index .AXHJ gaining 11.4% in its biggest jump since June 22, 2001.
Ansell Ltd ANN.AX settled nearly 25% higher for its biggest daily gain since October 1987, after the glove maker reiterated its full-year outlook, citing strong demand for its products. heavyweight CSL CSL.AX advanced about 12%, marking its best day since Jan. 19, 2017.
"The health care sector remains the best growth story in the current environment," said Mathan Somasundaram, a market portfolio strategist at Blue Ocean Equities, adding that it had been the only industry to outperform its U.S. counterpart over the last five years.
Financial stocks .AXFJ closed 8.8% higher, their best since March 17, with all the "Big Four" banks adding more than 7%.
The mining sector .AXMM finished 3.8% higher, with BHP Group BHP.AX rising 4% while Rio Tinto (LON:RIO) RIO.AX climbed 2%.
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose about 1.1% to 9,661.19, with Contact Energy CEN.NZ gaining 3.1%, while Synlait Milk SML.NZ ended 4.2% higher.
The Reserve Bank of New Zealand said it would deploy more tools to provide additional liquidity to the companies and support market functioning.