Aust stocks close higher

The resources index divided by the bank index over the past 12 months.

The Australian stock market closed slightly higher as investors position for the end of the quarter, encouraged by Wall Street gains on solid economic data.

At the 1615 AEST official market close, the benchmark S&P/ASX200 index was 0.24% higher at 5,307.1 points, while the broader All Ordinaries index gained 0.27% to 5,302.2 points.

Wall Street's gains followed a report that confirmed United States second-quarter growth at 2.5%, while weekly jobless claims sank to 305,000.

IG analyst Chris Weston said Asian trade was lifeless today.

"There have been some further quarter-end flows and what a quarter it has been, with all markets doing very well indeed," Mr Weston said.

"What happens on Tuesday though is another matter, given markets won’t have the support of quarter-end window dressing, and could also be faced with a potential government shutdown as well."

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