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Australian shares rise, post biggest weekly gain in 2 months; NZ down

Published 23/09/2016, 04:51 pm
© Reuters.  Australian shares rise, post biggest weekly gain in 2 months; NZ down
AXJO
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Sept 23 (Reuters) - Australian shares ended higher for a fourth straight session on Friday, posting their biggest weekly gain in 2 months, as the U.S. Federal Reserve's signal to go easy on rate increases next year and in 2018 buoyed investors.

The S&P/ASX 200 index .AXJO ended 1.1 percent higher, or 56.84 points, at 5,431.30, led by financials.

The 'Big Four' Australian banks gained between 0.7 percent and 1.7 percent, underpinned by the Fed's move to maintain a low-interest rate environment that has helped sustain the bull market for stocks since the global financial crisis. MKTS/GLOB benchmark rose 2.5 percent on the week, snapping five straight weeks of losses.

New Zealand's benchmark S&P/NZX 50 index .NZ50 nudged 0.2 percent lower, or 14.97 points, to end at 7,296.74.

The benchmark was up 0.6 percent on the week.

Orion Health Group OHE.NZ hit a five-month closing low to end down 5.2 percent.

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