By Swati Pandey and Rebecca Howard
SYDNEY/WELLINGTON, Dec 23 (Reuters) - Australian shares climbed 0.8 percent on Wednesday, heading for their sixth straight day of gains in thin trading ahead of Christmas holidays, helped by a rally in banks and resources counters.
Rising prices of iron ore, Australia's top export earner, underpinned natural resources stocks with global miners BHP Billiton (L:BLT) BHP.AX and Rio Tinto (L:RIO) RIO.AX jumping 3.5 percent and 4.5 percent respectively.
The S&P/ASX 200 index .AXJO was up 41.00 points to 5,157.70 by 0039 GMT. The benchmark closed little changed in the last session.
Meanwhile, New Zealand's benchmark NZX 50 index .NZ50 rose 0.4 percent or 23 points to 6,174.24, a new record high in thin pre-Christmas rally.
"In the past 3 years, the odds of hitting better than 5 consecutive days of positive returns are just below 3 percent. Logic suggests there will be a day of profit taking soon but the trend remains positive," Baillieu Holst said in a morning note.
The Australian index has had a tough year, already down nearly 5 percent so far and on track for its first negative annual returns since 2011.
However, analysts maintained a bullish long-term view of the index on the back of an improving macro-economic outlook and a weak Aussie dollar. The benchmark is expected to rebound in 2016 to 5,625 points, a Reuters poll found. urn:newsml:reuters.com:*:nL3N13Y01B
On Wednesday, the big four banks including Westpac WBC.AX and National Australia Bank NAB.AX were up 0.5-1.4 percent. Top investment bank Macquarie MQG.AX rose about 2 percent.
Atlas Iron AGO.AX surged 20 percent after the market digested its new debt restructure agreement. urn:newsml:reuters.com:*:nWNBS01TY5
Lend Lease LLC.AX jumped nearly 4 percent after the property and infrastructure company announced a new investment in an upcoming office tower development in Sydney's Darling Harbour. urn:newsml:reuters.com:*:nL3N14C007
Rail freight operator Aurizon Holdings AZJ.AX slumped over 16 percent to its lowest since July 2013 on bleak outlook. urn:newsml:reuters.com:*:nL3N14C00H
Melbourne-based law firm Slater & Gordon SGH.AX skidded nearly 4 percent after news rival Maurice Blackburn is to open registrations to pursue a class action lawsuit against the former. urn:newsml:reuters.com:*:nL3N14C00F
For more individual stocks activity click on STXBZ
In New Zealand, the biggest gainers were Sky Network Television SKT.NZ , up 2.1 percent and Fletcher Building FBU.NZ , up 1.6 percent.
The biggest losers Xero XRO.NZ , down 1.1 percent and A2 Milk ATM.NZ , down 0.6 percent as investors continue to take profits. (Editing by Sam Holmes)