MELBOURNE, Dec 5: Australian shares rose 0.4 percent on Wednesday, winning back a good chunk of losses in the previous session, as data showed the economy slowed in the third quarter but was still growing at a faster pace than any other developed nation.
The Australian Bureau of Statistics reported gross domestic product (GDP) rose 0.5 percent in the third quarter, in line with forecasts albeit the smallest rice since early 2011. .
The benchmark S&P/ASX 200 index rose 16.8 points to at 4,520.4, according to the latest data, after falling 0.6 percent on Tuesday.
Top banks gained after policymakers lowered rates this week, with Commonwealth Bank advancing 1 percent.
New Zealand’s benchmark NZX 50 index slipped 0.2 percent to 4,007.25 points. (agencies)
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