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Australian shares snap three-day losing streak on push from miners

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Nasdaq
By Reuters

By Jaskiran Singh

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April 28 (Reuters) - Australian shares ended higher on Thursday as mining stocks gained on higher iron ore prices, while Fortescue Metals jumped on raising its annual iron ore shipments outlook.

The S&P/ASX 200 index .AXJO ended 1.3% higher at 7356.9 points at the close of trade. The benchmark closed 0.8% lower on Thursday.

China will tackle bottlenecks in supply chains affected by COVID-19 by easing congestion at ports and airports and restoring delivery services, according to a State Council meeting chaired by Premier Li Keqiang.

The country, Australia's largest trading partner, also said it will step up infrastructure construction to boost domestic demand and drive economic growth going forward, state TV reported, citing a top economics meeting chaired by Chinese President Xi Jinping.

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