Australian shares finished higher on Monday after a subdued start, as higher commodity prices supported basic materials stocks. The S&P/ASX 200 index was up 0.6 percent, or 33.89 points, at 5,317.73 at the close of trade. The benchmark closed 0.2 percent lower on Friday and has lost 2.2 percent this month.
Australian stocks had started soft after Wall Street weakened on Friday in response to news that the Federal Bureau of Investigation would review additional emails related to Democratic presidential candidate Hillary Clinton's use of a personal email server while secretary of state.
Gold stocks drove the gains in the basic materials sector as the yellow metal held steady on Friday's gains amid a firm dollar.
Gold miners Newcrest Mining and OZ Minerals Ltd added 5.3 percent and 5.5 percent respectively.
Iron ore prices too extended their winning streak, up for a sixth straight session on Monday.
Mining giants Rio Tinto Ltd and BHP Billiton Ltd were 0.8 percent and 0.4 percent higher respectively.
Orocobre Ltd saw its biggest intraday percentage gain in seven years, ending 20.4 percent higher, after Deutsche Bank in a note said the lithium miner's December quarter guidance for its Olaroz mine was achievable.
Financials, the biggest sector on the index, added 0.6 percent.
Real estate investment trusts Investa Office Fund and DEXUS Property Group were the sector's biggest gainers, each adding over 2 percent.
New Zealand's benchmark S&P/NZX 50 index rebounded from earlier losses, gaining 0.3 percent, or 17.38 points, finishing the session at 6,960.68.
Telecom stocks and financials led the gains, with Spark New Zealand and Westpac Banking Corp, among the biggest gainers, up 2.8 percent and 1.8 percent respectively.
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