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SYDNEY, May 3 (Reuters) - Australian shares jumped more than 2 percent on Tuesday, to their highest in more than six months, as investors cheered a quarter-point rate cut by the central bank. Banking Group ANZ.AX was the top performer on the index, up more than 5 percent, despite posting the steepest drop in cash earnings since 2008 as investors welcomed moves to focus on growth and protect capital. S&P/ASX 200 index .AXJO climbed 110.83 points to 5,353.80 at the close of trade. It hit an intra-day high of 5,357 points in late afternoon trading, its highest since October 2015. The benchmark fell 0.18 percent on Monday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 ended up 0.75 percent, or 51.2 points, to finish the session at 6,843.01.