(Updates to close) Australian shares took heart from a strong finish on Wall Street in the previous session to close at a two-week high on Monday, with healthcare and financial stocks touching record highs.
The S&P/ASX 200 index .AXJO rose 0.1 percent or 6.249 points to close at 5,988.8.
Technology stocks led the U.S. S&P 500 and Nasdaq to record closing highs on Friday, with the S&P ending above 2,600 points for the first time. .N
In Australia, healthcare stocks soared, with the sector index .AXHJ hitting an all-time high, after China cut import tarrifs last week.
China, Australia's largest trading partner, on Friday said it will cut import tariffs on consumer products ranging from meats and whisky to deodorant and cashmere clothes, as part of a drive to lower costs and help stimulate consumer spending at home. company CSL Ltd CSL.AX was the biggest boost on the benchmark, rising 0.5 percent to finish at a record high.
Financial stocks also lent the index some support, with the country's biggest investment bank Macquarie Group MQG.AX rising 0.9 percent to top the A$100 mark for the first time.
Downer EDI DOW.AX was the biggest gainer on the index. Shares of the engineering firm jumped 5.1 percent to a two-week high after upgrading its full-year profit guidance thanks to larger-than-expected cost savings from its purchase of Spotless Group. miner South32 Ltd S32.AX weighed on the benchmark, snapping two straight sessions of gains to fall 2.6 percent.
New Zealand's benchmark S&P/NZ 50 .NZ50 rose 0.6 percent to finish at a record high.
Healthcare stocks provided the biggest boost to the index, with Ryman Healthcare RYM.NZ climbing 5.6 percent.
Industrials and consumer staples also lifted the index, with Auckland International Airport AIA.NZ gaining 2.5 percent and a2 Milk ATM.NZ climbing 1.7 percent.