Australian shares ended higher on Thursday and posted their best February performance since 2015, helped by gains in heavyweight financial and mining stocks. The S&P/ASX 200 index rose 0.3 percent to 6,169.0 at the close of trade. The benchmark rose 0.4 percent on Wednesday and gained more than 5 percent for the month, its biggest monthly gain since July 2016.
Financials, the biggest sector in the index, rallied in February after a powerful inquiry into the sector drew to a close without recommending major structural changes to the industry. Mining stocks were stronger owing to better commodity prices and optimism towards China, Australia's largest export market.
For the day, the financial subindex closed 0.8 percent higher, with lenders Westpac Banking Corp and National Australia Bank ending about 1 percent and 1.3 percent higher, respectively. The subindex gained about 8 percent in February, its best month since April 2013.
Elsewhere, the mining subindex ended 0.9 percent lower, with most stocks losing ground after weaker Chinese factory data, and cautious statements from the Sino-US trade front. Bucking the trend, miner Rio Tinto closed 1.1 percent higher after posting its highest annual underlying earnings since 2014.
The mining index rose 6.1 percent in the month, with its largest member, BHP Group, adding nearly 7 percent. The New Zealand benchmark gained 3.8 percent for February. The New Zealand-listed shares of Westpac Banking rose 0.9 percent, while energy retailer Meridian Energy gained more than 1 percent.
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