(Reuters) - Australian shares closed higher on Thursday as oil prices recovered overnight and the U.S. S&P 500 bounced from the previous session's steep sell-off, although global growth worries lurked in the background.
Broader Asian shares ticked up after the S&P 500 inched higher on gains in energy and technology sectors, though worries over corporate earnings growth reaching a peak and the Sino-U.S. trade war kept investors on edge. [MKTS/GLOB]
The S&P/ASX 200 index <.AXJO> snapped four straight losing sessions to rise by 0.86 percent or 48.50 points to 5,691.30 at the close of trade. The benchmark fell 0.5 percent on Wednesday.
Miners <.AXMM> climbed 0.7 percent to recover some of the previous session's steep losses after iron ore prices <DCIOcv1> gained over 2 percent. [IRONORE/]
Global miner BHP <BHP.AX> firmed 0.6 percent, while Fortescue Metals Group Ltd <FMG.AX> rose 1 percent.
Lithium miner Mineral Resources <MIN.AX> was the top gainer on the benchmark, surging 26.6 percent after Albemarle Corp <ALB.N>, the world's top lithium producer, agreed to pay $1.15 billion to form a lithium joint venture with the company.
Financial stocks <.AXFJ> also underpinned the gains, with top lender Commonwealth Bank of Australia <CBA.AX> up 0.8 percent and National Australia Bank Ltd <NAB.AX> putting on 0.9 percent.
Healthcare stocks <.AXHJ> rose 2.7 percent to their highest in more than a week. Sector heavyweight CSL Ltd <CSL.AX> rose 3.4 percent, while Cochlear Ltd <COH.AX> was up 2.9 percent.
Energy stocks <.AXEJ> tacked on 0.9 percent, recovering from a battering in the previous session as investors took heart from an overnight recovery in oil prices. [O/R]
Oil prices rose on Wednesday after U.S. government data showed robust demand for refined fuel, however sentiment was tempered by concerns over rising global crude supply.
New Zealand's benchmark S&P/NZX 50 index <.NZ50> broke seven consecutive sessions of losses to rise 0.36 percent or 30.76 points to finish the session at 8,703.16.
Dairy firm a2 Milk Company Ltd <ATM.NZ> jumped 5 percent while Synlait Milk <SML.NZ> rose 3.5 percent.
(Reporting by Rashmi Ashok in Bengaluru, editing by Eric Meijer)
