ASX200 adds 4.5% in November Origin Energy at 8-month low NZ50...

	  ASX200 adds 4.5% in November 

	  Origin Energy at 8-month low 

	  NZ50 logs best month since July 2022 

(Updates to close)

Australian shares closed more than half a percent higher on Thursday and logged their best month in ten, driven by gains in banking and mining stocks, while power producer Origin Energy (ORG) slumped on rejecting a "complex" takeover bid.

The S&P/ASX 200 index (xjo) ended 0.7% higher at 7,087.30 points. The benchmark rose about 4.5% in November, breaking a three-month losing streak and clocking its best monthly gain in 10 months.

Positive economic indicators like slower-than-expected inflation, soft retail sales, coupled with rising bets that the U.S. Federal Reserve was done with hiking interest rates owing to easing inflation helped market sentiment this month.

Luci Ellis, chief economist at Westpac, reaffirmed her view that the Reserve Bank of Australia (RBA) would pause at their meeting next week, and continues to predict a hike in February after assessing full December quarter inflation.

"If things play out broadly in line with their (RBA) forecasts, though, further moves would be harder to justify. In that case, it would be likely that the RBA would hold the cash rate steady," Ellis added.

In Sydney, rate-sensitive banking stocks .AXFJ climbed about 1.2%. The "big four" banks all rose between 0.7% and 1.3%. Asset manager Macquarie Group (MQG) jumped 2.1%.

Heavyweight miners .AXMM advanced 0.4% as iron ore prices clock a near 7% gain this month, on track for fourth consecutive month of gains. Australian miners have logged a 4% gain this month, breaking a three-month losing streak.

Energy stocks .AXEJ lost 0.3%, and ended the month 7.4% in the red. Origin Energy (ORG) declined 2.4% to its lowest since March 28 after it said that the Brookfield-EIG Consortium's new scheme for the company was not in its best interests.

In New Zealand, the benchmark S&P/NZX 50 index (nz50) gained 0.8% to finish at 11,330.200 points. The benchmark gained 5.3% in November, logging its best month since July last year.