INSUBCONTINENT EXCLUSIVE:
Australian shares closed more than 1 per cent higher on Thursday as a 'flash crash' in local currency bolstered appeal of export-oriented
stocks, with gold stocks topping gains.
The SP/ASX 200 index gained across board to close 1.4 per cent higher at 5,633.4
The benchmark lost 1.6 per cent on Wednesday.
Broader Asian shares were left shaken after a rare revenue warning from Apple Inc added to
worries about slowing global growth and weaker earnings.
The news sparked a rout in holiday-thinned currency markets as investors opted for
less risky assets, but Aussie dollar plumbing multi-year lows proved a blessing for export stocks in region.
The materials and mining
sub-index gained 0.9 per cent for day, with gold stocks claiming spotlight
Shares of gold miner Evolution Mining Ltd advanced 5 per cent to hit a record high.
The banking index also saw solid buying, up 1.8 per cent
The "big four" banks gained between 1.2 per cent and 2.3 per cent.
Positive sentiment spilled over into healthcare sector as well,
propelling sub-index 1.6 per cent higher to its best close since Nov
Shares of biotherapeutics firm CSL Ltd added 2.2 per cent.
Meanwhile, New Zealand's benchmark SP/NZX 50 index ended 0.9 per cent, or 78.9
points lower in its first trading session of year, at 8,732.37.
Shares of Kathmandu Holdings weighed on main index as they fell 13.5 per
cent to their worst close in over 6 months after reporting a 1 per cent drop in its same-store sale for 22 weeks ending Dec
