SYDNEY, Oct 15: Australian shares rose 1.0 percent on Tuesday, supported by broad-based buying in miners and banks as investors grew more hopeful that U.S. Lawmakers might be nearing a budget and debt deal after weeks of wrangling.
The S&P/ASX 200 index climbed up 51.2 points to 5259.1, the highest close since September 30. The benchmark fell 0.4 percent on Monday.
Rio Tinto extended gains to end 2.5 percent higher after the global miner boosted its forecast copper output for 2013 and posted record iron ore and coal output in the third quarter.
Meanwhile, minutes of the Reserve Bank of Australia’s Oct. 1 meeting revealed that the bank is prepared to cut interest rates further though it signalled no urgency to act because there was a substantial amount of policy stimulus already in place.
New Zealand’s benchmark NZX 50 index inched up 0.3 percent to 4,747.9.
(agencies)
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