Australian shares up, New Zealand at all-time high

Australian shares rose 0.3 percent after a volatile start on Friday, led by miners as Chinese data supported investor sentiment ahead of the US non-farm payrolls due later in the day. New Zealand's benchmark NZX 50 index closed the session 0.5 percent or 20.5 points higher, at an all-time high of 4,354 China's exports handily beat forecasts in February, helped by strong demand in the US and ASEAN countries and by steady rises in electronics exports, adding to signs of recovery in the world's second largest economy, although imports were weak.
"The surprising surplus garnered enough positive investor reaction to offset the decline in Chinese import numbers," said Tim Waterer, senior trader at CMC Markets. Blue chip miners led the gains, with BHP Billiton Ltd climbing 0.8 percent while rival Rio Tinto Ltd rallied 1.8 percent.
Gold finished the day firmer, Newcrest Mining Ltd climbed 1.4 percent while Beadell Resources Ltd surged 19.4 percent. Bullion hovered near $1,580 an ounce on Friday before the US jobs report. The S&P/ASX 200 index finished the day 14.2 points higher at 5,123.4. The index slipped 0.2 percent on Thursday. The benchmark rose 0.7 percent for the week and is up 10.2 percent for the year so far as the Australian share market enjoys a bull run on strong earnings and investor optimism in the global economy.
"A pleasing headline Chinese trade balance number combined with solid gains across other Asian markets helped propel the ASX200 higher today," said Waterer. Investors will stay focused on Friday's non-farm payrolls report, which is expected to show the US economy added 160,000 jobs in February.
"A positive tone should be seen in a market where there is so much bullish momentum around," said Chris Weston, chief market strategist, IG Markets, noting the nonfarm payrolls data could be volatile. Financials were mostly firmer with Australia and New Zealand Banking Group leading gains, up 0.4 percent. Westpac Banking Corp bucked the trend, slipping 0.1 percent after reaching all-time highs earlier in the week. The food retail sector finished the day stronger, Woolworths Ltd posted gains of 0.7 percent while Wesfarmers Ltd, owner of arch-rival supermarket Coles, rose 0.7 percent.