Aust stocks close higher

Local market pushes higher as fears over emerging markets subside after Turkish central bank hikes lending rate.

The Australian stock market has closed 1% higher as fears around emerging markets eased following aggressive action from the central bank of Turkey to support its currency.

At the 1615 AEDT official market close, the benchmark S&P/ASX200 index rose 1.04% to 5,229 points, while the broader All Ordinaries index lifted 1.01% to 5,240.6 points.

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