Australia Shares at near 2-year highs on financials support

Australian equities continued uptrend on Wednesday, 29 March 2017, pushing the benchmark indices to a near two-year high, underpinned by optimism over earnings for the financial sector after the country's big four banks raised their home loan rates recently. At the close, the benchmark S&P/ASX 200 index finished at 0.9% higher or 52.26 points to 5873.5, its strongest level since mid-April 2015. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 637 to 455 and 351 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 4.26% to 11.748.

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