Oct 14 (Reuters) - Australian shares snapped three straight
sessions of losses on Thursday, helped by tech stocks and a near
5% jump by South32 after it forayed into copper just as demand
is expected to boom.
The diversified miner ploughed $1.55 billion for a 45% stake
in the Sierra Gorda copper mine in Chile, the world's largest
copper-producing country, sending shares soaring by their most
The benchmark ASX 200 climbed half a percent to
7,311.7, with a recovery in iron ore miners such as Fortescue
and Rio Tinto providing a lift.
Rio Tinto will provide a third-quarter production update on
Tech stocks climbed more than 3% following gains on
the tech-heavy Nasdaq overnight. The country's two biggest
buy-now-pay-later firms, Afterpay and Zip Co Ltd
, were both up more than 4%.
Crown Resorts rose 3.7% ahead of Friday's decision
on its main gambling licence amid worries about regulatory
scrutiny of the casino sector.
An inquiry may declare Crown unfit for its main gambling
licence, but it is expected to be allowed to keep its casino in
Melbourne open with conditions because of its outsized economic
The top gainer on the benchmark stock index was Netwealth
after it reported record inflows in the September
In New Zealand, shares edged 0.2% higher to
13,048.49, with a2 Milk up nearly 5% after Wednesday's
Hopes for a recovery in China, a2's main market, following
an upbeat quarterly update by a smaller peer have boosted the
dairy firm stock that has lost more than a half its value since
December last year.
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by