SYDNEY, June 28 (Xinhua) -- The Australian share market closed higher on Thursday, supported by strong performance in the energy and materials sectors.
At the close, the benchmark S&P/ASX200 stock index was up 19.5 points or 0.32 percent at 6,215.4, while the broader All Ordinaries index added 15.3 points or 0.24 percent at 6,305.8.
CMC Markets chief market strategist Michael McCarthy told Xinhua it was a "surprisingly strong performance from the Australian share market today, given the negative leads investors were seeing at the New York close this morning. And it is been replicated across the region".
"It does appear regionally investors are a little less concerned about the trade fears that are really hurting markets around the globe. But part of that might also have to do with lower local currencies as the U.S. dollar strengthened again overnight."
One of the main reasons the Australian market outperformed was the strength in the energy sector on the back of higher oil prices overnight, said McCarthy.
The strength spread to the resources sector while the materials sector was the second-best performer of the day, he said.
Sectors that came under pressure during the day included consumer discretionary, property trusts, information technology stocks in particular, and industrial, McCarthy added.
The big banks ended higher, with ANZ up 0.63 percent, Commonwealth Bank adding 0.85 percent, National Australia Bank gaining 0.77 percent and Westpac 0.48 percent stronger.
Mining giant BHP Billiton climbed 1.78 percent while rival Rio Tinto gained 1.21 percent. Fortescue Metals was down 0.88 percent while gold miner Newcrest climbed 1.86 percent. Woodside Petroleum was up 1.8 percent while oil and gas giant Santos soared 2.61 percent.
Supermarket chain Woolworths gained 1.02 percent while rival Wesfarmers slid 0.27 percent. National carrier Qantas fell 2.69 percent and biomedical group CSL dipped 0.08 percent.
