Aust stocks open higher

Local market pushes more than 0.5% higher as Wall St lifts on China data.

By Staff Reporter ·
11 Sep 2013

The Australian stock market opened more than 0.5% higher after Wall Street again made marked gains on strong Chinese economic data and greater confidence the US may not launch a strike on Syria.

At the 1015 AEST official market open, the benchmark S&P/ASX200 index gained 0.59%, to 5,231.8 points, while the broader All Ordinaries index rose 0.55% to 5,227.4 points.

In economic news on Wednesday, the Australian Bureau of Statistics (ABS) releases lending finance data for July, while the Westpac/Melbourne Institute Survey of Consumer Sentiment is also due out.

No major equities news is expected.

In Australia, the market on Tuesday approached its highest point for the year as investor confidence is boosted by a decisive federal election result and encouraging Chinese economic data.

The benchmark S&P/ASX200 index gained 19.7 points, or 0.38%, to 5,201.2 points.

The broader All Ordinaries index added 19.5 points, or 0.38%, to 5,198.9 points.