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Australia shares close at 5-month high after rate cut

(Updates to close)

SYDNEY, Oct 2 (Reuters) - Australian shares rallied 1 percent to their highest close in five months after Australia's central bank cut its main cash rate in a bid to bolster growth in the face of weak commodity prices and global uncertainty.

The Reserve Bank of Australia cut interest rates by a quarter point to a three-year trough of 3.25 percent on Tuesday, saying a darker global background, falling export prices and a high currency had all dimmed the economic outlook at home.

The benchmark S&P/ASX 200 index

rose 44.4 points to 4,433, its highest close since early May, according to the latest data. The benchmark ended flat on Monday.

New Zealand's benchmark NZX 50 index

finished 1.1 percent or 41.2 points higher at 3,871.3.

(Reporting by Thuy Ong; Editing by Richard Borsuk)

((thuy.ong@thomsonreuters.com)(+61 2 9373 1236))

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