* U.S-based Moderna's experimental COVID-19 vaccine show
* Afterpay rebounds after three sessions of losses
* NZ higher
July 15 (Reuters) - Australian shares closed higher on
Wednesday, mirroring overnight gains on Wall Street, with
material stocks providing a major lift to the domestic
benchmark, while promising developments in a potential COVID-19
vaccine added to the cheer.
The S&P/ASX 200 index rose 1.88% to 6,052.9 points,
in its best day since June 30, despite tightened restrictions on
movement to contain a fresh outbreak of COVID-19 that has pushed
the national case tally over 10,000.
The benchmark closed 0.6% lower on Tuesday.
The Australian market took cue from strong overnight gains
on the major Wall Street indices, where the Dow Jones Industrial
Average ended more than 2% higher and the S&P 500
gained over a percent.
U.S. stocks rallied after Federal Reserve Board Governor
Lael Brainard hinted at an additional monetary stimulus,
analysts at OCBC Bank said in a note.
Meanwhile, U.S. researchers on Tuesday reported that Moderna
Inc's experimental vaccine for COVID-19 provoked immune
responses in all 45 healthy volunteers in an ongoing early-stage
"The sooner a vaccine or treatment is available, the easier
it is for the economic recovery to take place," said CommSec
market analyst James Tao.
ASX 300 metals and mining index rose 2.7% led by
Champion Iron Ltd, up 10.29%, followed by Aurelia
Metals Ltd, gaining 7.55%
Basic material stocks chased overnight gains in their U.S.
counterparts, which were also a major boost to the U.S. indices
in the last session.
Technology stocks rose 2.77% led by WiseTech Global
Ltd, up 4.58%, followed by EML Payments Ltd,
Buy-now-pay-later firm Afterpay Ltd jumped 5%
before closing 2% higher, recouping after three sessions of
losses for the first time in a month.
In New Zealand, the benchmark S&P/NZX 50 index rose
1% to 11,610.52.
Top gainers on the are Vista Group International Ltd
, up 4.17%, followed by Oceania Healthcare Ltd,
(Reporting by Nikhil Subba in Bengaluru; Editing by Shailesh