Aust stocks close more than 1% higher

Local market rally in late trade, led by miners on rise in commodity prices, promising Chinese data.

The Australian stock market soared past the 5100 mark in late trade to sit more than 1% higher, led by a surge in the major iron ore miners on a rise in commodity prices, with encouraging economic indicators out of China last week still fresh in investors’ minds.   

At 1615 AEST, the benchmark S&P/ASX200 index rose 1.06% to 5,108.7 points, while the broader All Ordinaries index added 1.09% to 5,093.8 points.

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