Australian shares closed at their highest point in nearly 12 years on Wednesday as investors cheered signs of progress in the trade talks between the United States and China.
The S&P/ASX 200 index rose 0.8%, or 52.10 points, to close at 6,776.70. The benchmark gained 0.5% on Tuesday.
Financials rose 1.3% to their best close since August 2018, with the "Big Four" banks gaining between 0.8% and 1.7%.
Commonwealth Bank of Australia advanced 1% and National Australia Bank added 1.7%.
Woodside Petroleum Ltd and Oil Search both rose 0.7%.
The metals and mining sector dropped 0.8% as iron ore prices fell up to its weakest in more than two weeks. Mining behemoths BHP Group and Rio Tinto declined 0.6% and 2.2%, respectively, while Fortescue Metals Group fell 0.6%. New Zealand's S&P/NZX 50 index closed down 0.5%, or 54.71 points, to 10,812.54. The benchmark had hit a record high on Tuesday.
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