SYDNEY/WELLINGTON: Australian shares extended gains into a seventh session on Wednesday as markets advanced across the globe on positive Covid-19 vaccine news, while Infratil helped New Zealand stocks close at a record high. The S&P/ASX 200 index settled 0.6% higher at 6,728.5, carving out its longest winning streak since the first-half of October.
Gains in miners showed no signs of losing steam, with the sub-index rising for the seventh straight session as Chinese coking coal futures hit a record high, while brokerages see the rally extending into 2021. Fortescue Metals Group Ltd hit an all-time peak after the miner said it saw strong iron ore consumption next year on solid Chinese steel demand as well as a post-Covid-19 recovery in other markets.
Healthcare stocks gained as much as 2.5%, with Healius Ltd rising more than 6% on upbeat outlook and buyback plans. Tech shares, on the other hand, tracked gains in their US peers and hit a new high. New Zealand's benchmark S&P/NZX 50 index climbed 1.3%, with Infratil Ltd leading gains after rejecting a NZ$5.37 billion ($3.78 billion) takeover offer from AustralianSuper.
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