Australian shares ended higher for a fourth straight session on Friday, posting their biggest weekly gain in 2 months, as the US Federal Reserve's signal to go easy on rate increases next year and in 2018 buoyed investors. The S&P/ASX 200 index ended 1.1 percent higher, or 56.84 points, at 5,431.30, led by financials.
The 'Big Four' Australian banks gained between 0.7 percent and 1.7 percent, underpinned by the Fed's move to maintain a low-interest rate environment that has helped sustain the bull market for stocks since the global financial crisis. The benchmark rose 2.5 percent on the week, snapping five straight weeks of losses. New Zealand's benchmark S&P/NZX 50 index nudged 0.2 percent lower, or 14.97 points, to end at 7,296.74. The benchmark was up 0.6 percent on the week. Orion Health Group hit a five-month closing low to end down 5.2 percent. Financial stocks accounted for nearly half of Friday's gains on the benchmark. National Australia Bank, the biggest lender, advanced for an eighth straight session, rising 1.6 percent.
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