Australian shares up; New Zealand steady

Australian shares rose on Thursday, snapping three straight days of losses, buoyed by the materials sector and gains from miner BHP Billiton. The S&P/ASX 200 index closed up 0.4 percent, or 23.49 points, at 5,708. BHP Billiton ended more than 1 percent higher, driven by gains in oil and copper prices. Oil prices recovered from losses chalked up the session before, though the market remained under pressure as bloated US crude inventories dampen Opec-led efforts to curb global production.
New Zealand's benchmark S&P/NZX 50 index inched up 0.02 percent, or 1.72 points, to finish the session at 7,062.55. New Zealand's central bank stuck firmly to its stance of keeping interest rates at a record low of 1.75 percent at its meeting on Thursday and reiterated that it would stay on hold for a "considerable" period of time.