percent as strong gains in banks offset a drop in Telstra Corp. to a record low on a fresh battle with the competition watchdog. The benchmark S&P/ASX 200 index gained 33.9 points to close at 3,480.2, according to the latest available data, more than recouping the previous session's loss. New Zealand's benchmark NZX 50 index ended up 1 percent at 2,633.2. (Reporting by Sonali Paul) ((adrian.bathgate@reuters.com; +64-4-4714233; Reuters Messaging:

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