* Index set to add about 12% in November
* Financials poised to post record monthly gain of over 17%
* Australia's Q3 GDP +2.5% QOQ - Reuters poll
* NZ bourse set for second consecutive monthly gain
Nov 30 (Reuters) - Australian shares opened higher on
Monday, and were on track to post their biggest monthly gain, as
optimism surrounding COVID-19 vaccine candidates and hopes of an
economic recovery in the coming year boosted risk appetite.
The S&P/ASX 200 index was up 0.5% at 6,632.90 by
2330 GMT. It was on track to add nearly 12% in November, its
biggest monthly gain on record.
Optimism around multiple potential effective coronavirus
treatments buoyed global stock markets this month, with hopes of
a swift economic recovery in 2021 further bolstering the gains.
Investors will be eyeing third-quarter gross domestic
product data due on Wednesday that is expected to show a rebound
in the economy - a likely 2.5% growth in September quarter from
a 7% contraction in the June quarter, according to a Reuters
"With another solid gain likely in Q4 and the growth outlook
looking positive for 2021, GDP could be back to its pre-pandemic
level sometime in 2021," analysts at ANZ said in a note.
Heavyweight financials sub-index gained 0.5% on the
back of blue-chip banking stocks, with the sector on track to
post a record monthly gain of more than 17%.
Miners were set to post their best month since May,
while energy companies were poised to add more than 30%
in November, their record monthly gain.
Meanwhile, an 11.8% fall in Treasury Wine Estates
weighed a little on the index after the winemaker said it would
redirect some wine intended for China and cut costs after
Beijing imposed anti-dumping tariffs on Australian wine.
In New Zealand, the benchmark S&P/NZX 50 index rose
0.5% to 12,703.12, on track to add more than 5% in November,
likely its second consecutive monthly gain.
(Reporting by Sameer Manekar in Bengaluru, Editing by Sherry