MELBOURNE, Jan 30: Australian shares rose 0.2 percent to a fresh 21-month high on Wednesday as top miners climbed on firmer copper prices and insurers rebounded as the wider market gained from a revival in risk appetite.
It was the 10th straight day of gains and the pushed the market to a 5.3 percent rise so far for January.
The benchmark S&P/ASX 200 index rose 7.7 points to 4,896.7, according to the latest data, its best since April 2011. It rose 1.1 percent on Tuesday.
BHP Billiton gained 1.2 percent while Rio Tinto advanced 1.5 percent.
QBE Insurance Group rebounded 4.2 percent while Insurance Australia Group recovered 1.2 percent. Insurers had been hit as fire and flood ravages Australia.
New Zealand’s benchmark NZX 50 index added 1.1 percent to 4,247.546, the highest since October 2007.
The top 10 stocks rose 1.6 percent on improved risk appetite, amid signs the local economy is picking up. Top stock Fletcher Building rose 1.4 percent to NZ$9.39, a 21 month high.
(agencies)
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