Australian shares closed at a more than five-month high on Wednesday, boosted by gains in drugmaker CSL Ltd and financial stocks, with lower infections of the novel coronavirus in the country aiding sentiment.
The S&P/ASX 200 index <.AXJO> ended 0.7% higher at 6,167.60, its highest close since March 6, 2020.
Shares of CSL <CSL.AX>, one of the largest listed Australian stocks, gained 6.4% to close at their highest level since April 29 after the company posted a 17% rise in its annual profit. The stock's jump helped the Australian healthcare index <.AXHJ> climb about 4% at a near six-month closing high.
"CSL alone is adding close to 30 points on the ASX 200. So, that stock is single-handedly boosting the Aussie market," Steven Daghlian, market analyst at CommSec said.
The financial index <.AXFJ> added 1.2%, buoyed by Australia and New Zealand Banking Group <ANZ.AX>, up 3.4%, after the lender resumed dividend payouts, having halted them early this year due to the coronavirus crisis.
The remaining three of the Big Four banks all closed around 1% higher.
Meanwhile, Australia's second most-populous state recorded 12 COVID-19 deaths, down from 17 a day earlier, signalling of a further stabilization in new cases.
"COVID-19 obviously is always at the front of buying when it comes to investment decisions at the moment," Daglian said.
Limiting gains on the benchmark, the gold index <.AXGD> fell 3.4% on lower bullion prices. Resolute Mining Ltd <RSG.AX> fell 17.5% and West African Resources Ltd <WAF.AX> lost 6.9%.
In New Zealand, the benchmark S&P/NZX 50 index <.NZ50> closed 0.8% lower at 11,751.3.
Top percentage losers on the benchmark were A2 Milk Company Ltd <ATM.NZ>, down 5.4%, followed by Synlait Milk Ltd <SML.NZ>, losing 4.6%.
(Reporting by Nikhil Subba in Bengaluru; editing by Uttaresh.V)
