Aust stocks close higher

Local market lifts over 1.6% as investors hope US lawmakers' negotiations will lead to a debt ceiling deal and end the shutdown.

The Australian stock market posted its largest one day gain in over three months as investors hoped a meeting between United States Democrats and Republicans would lead to a debt ceiling deal and an end to the government shutdown.

At the 1615 AEDT official market close, the benchmark S&P/ASX200 index spiked 1.63% to 5,230.9, while the broader All Ordinaries index lifted 1.61% to 5,228.8 points.

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