SYDNEY: Broad-based gains pushed Australian shares higher, as plans to gradually reopen the country’s most populous state after a weeks-long coronavirus lockdown boosted hopes of a pick up in economic activity.
The S&P/ASX 200 index rose 1.3% to 5,461.2 points. The index marked its third straight weekly gain last Friday as Australia eases social distancing restrictions, which have taken a devastating toll on the economy and put it on course for its first recession in three decades.
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