Aust stocks open at near six-year high

Local market hits highest point since June 2008 despite weak US leads.

The Australian sharemarket notched up a fresh near six-year high at the open, despite Wall Street closing lower following a broad sell-off of tech stocks.

At the 10.15am (AEST) official market open, the benchmark S&P/ASX200 index rose 15.9 points, or 0.29%, at 5,533.7 points, while the broader All Ordinaries index also gained 15.9 points, or 0.29%, to 5,518.7 points.

The S&P/ASX200 now sits at its highest intraday level since the week of June 9, 2008, eclipsing the intraday high of 5,521 set yesterday.

Locally, information technology stocks once again led the market, gaining 1.34% across the sector.

Industrials pushed 0.52% higher, while materials added 0.45%.

Locally, no major economic news is expected on Thursday.

In Australia, the market on Wednesday hit another high after a fifth consecutive day of gains, driven by lower-than-expected inflation.

The consumer price index rose 0.6% in the March quarter, for an annual rate of 2.9%.

Economists had expected a rise of 0.8% for the quarter and 3.2% for the year.

The benchmark S&P/ASX200 index added 38.5 points, or 0.7%, to 5,517.8, its highest close since June 6, 2008.

The broader All Ordinaries index gained 35.1 points, or 0.64%, to 5,502.2, its highest close since June 18, 2008.

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