* Australia Q1 GDP rises 0.8% vs 0.5% forecast

* NZX 50 logs gains for three straight days

* Miner Fortescue Metals top gainer on ASX 200 (Updates to close)

June 1 - Australian shares ended higher on Wednesday after better-than-expected growth data and expectation of further acceleration offered hope that the economy would hold up well in the face of rising interest rates.

The S&P/ASX 200 index climbed 0.3% to 7,234 points, though gains were capped by a plunge in battery metal firms that weighed on a broader mining sub-index.

Data from the Australian Bureau of Statistics showed gross domestic product rose 0.8% quarter-on-quarter, topping market forecasts of a 0.5% gain.

"Today's GDP illustrates that there is support for the economy to operate with higher interest rates," said Kerry Craig, global market strategist at JP Morgan Asset Management.

"We expect a larger 40 basis points rate hike by the RBA this month as it shifts to getting back to 0.25% increments in policy moves."

Encouragingly, senior economists at National Australia Bank said the high level of savings will help households weather headwinds from higher rates and rising prices in the near term.

Leading gains on the benchmark, heavyweight financials advanced 1.2%, with all four top banks adding between 0.8% and 2.3%, each.

Lithium and rare earth miners, however, skidded after Goldman Sachs on Sunday forecast a sharp correction in lithium prices over the next two years.

The mining sub-index eased 0.6% on its worst day since May 26, with lithium explorers Liontown Resources , Pilbara Minerals, and IGO declining between 11% and 23% to lead losses among blue-chip firms.

Though energy stocks added 0.3%, Origin Energy plunged 13.7% after it withdrew its earnings guidance for the next financial year.

Gold stocks shed 3.4% as bullion prices hit a near two-week low. The country's largest gold miner, Newcrest , gave up 2.7%.

New Zealand's S&P/NZX 50 rose 0.6% to 11,373.2 points, with shares in a2 Milk up for a third straight day. (Reporting by Roushni Nair in Bengaluru; Editing by Shailesh Kuber)