SYDNEY, Feb 13: Australian shares climbed 0.9 percent, breaking past the 5,000 resistance level on Wednesday on strong corporate earnings and receding global economic worries.
Analysts said the market will continue its bull-run if corporate earnings remain solid.
The Commonwealth Bank of Australia led gains, soaring 2.4 percent to an all-time high of A$67.11 after posting record first half earnings of A$3.7 billion.
The S&P/ASX 200 index ended 44.7 points higher at 5,003.7, according to the latest data. The benchmark ended flat on Tuesday in thin trade.
The market had not broken above the 5,000 psychological barrier in almost three years, and the last time it closed above 5,000 was Sept. 22, 2008.
New Zealand’s benchmark NZX 50 index finished the day 0.1 percent, or 3.3 points lower to 4,221.4. (agencies)
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