Australian shares pare gains to end up 0.1 percent

Australian shares pared gains on Thursday to end up 0.1 percent, with support coming from banks and miners but investors exercised caution after China's central bank said there was no basis for further depreciation in the yuan. BHP Billiton rose 1.2 percent, while gold miner Newcrest gained nearly 3 percent. Telecommunications stocks stayed in the red with Telstra down 2.24 percent. The S&P/ASX 200 index rose 5.8 points to 5,387.9 by the close of trade, after two days of losses. The benchmark dropped 1.7 percent on Wednesday, its lowest close in seven months. New Zealand's benchmark NZX 50 index fell 0.4 percent, or 19.5 points, to finish the session at 5,737.7.