The Australian stock market closed slightly higher following gains on Wall Street as United States data showed new home sales plunged 13.4% in July.
At 1615 AEST official market close, the benchmark S&P/ASX200 index rose 0.22% to 5,134.9 points, while the broader All Ordinaries index lifted 0.24% to 5,127.3 points.
CMC Markets analyst Tim Waterer said the market made a subdued advance today, but gold stocks rose after the precious metal's price surged late last week.
"Investors appeared ‘comforted’ by the possible implications of Friday’s poor US data, as counter-intuitive as that may seem," Mr Waterer said.
"For the remainder of the week all eyes will again be on US data as traders attempt to ascertain whether the [Federal Reserve Board's] Federal Open Markets Committee will still be leaning towards tapering when they meet come September."
Financials were mostly higher.
Commonwealth Bank rose 0.74% to $72.58, while ANZ Banking Group lifted 0.61% to $29.82.
National Australia Bank put on 0.28% to $32.55, while Westpac Banking Corporation rose 0.67% to $31.68.