Australian shares rose 0.4 percent on Monday, snapping a six-session losing streak, with investor sentiment underpinned by a jump on Wall Street and easing tensions in Ukraine. The S&P/ASX 200 index climbed 21.7 points to 5,457.0 at the close of trade. The benchmark lost 2.2 percent last week, its biggest weekly loss since mid-March.
New Zealand's benchmark NZX 50 index was down 0.1 percent or 5.6 points to 5,049.6. The top bank by market capitalisation, Commonwealth Bank of Australia, was up 0.4 percent and National Australia Bank gained 0.5 percent. Mid-tier Bendigo and Adelaide Bank Ltd climbed 2.1 percent after reporting its fiscal year net profit after tax jumped 5.7 percent to A$372.3 million.
"A lot of today's gain is driven on the back of Wall Street but volumes are low," said Lucinda Chan, division director at Macquarie Bank in Sydney, adding that the local market was still quite soft. JB Hi-Fi Ltd plumbed 8.7 percent to 2-month lows of A$17.70 after the electronics retailer reported a rise in full-year profit but warned that first-half revenue would be impacted by poor tablet computer sales.
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