Aust stocks open stronger

Local market pushes more than half a per cent higher on record S&P 500 gains.

The Australian stock market opened higher following strong gains on Wall Street that pushed the S&P 500 to a new all-time high and gave the Nasdaq a 1.3% gain last week.

At the 1015 AEDT official market open, the benchmark S&P/ASX200 index was 0.67% higher at 5,357.3 points, while the broader All Ordinaries index increased 0.67% to 5,356.5.

In equities news, wotif.com (WTF) has its annual general meeting.

In Australia, the market on Friday closed at the highest level in almost five-and-a-half years as China regains its growth momentum.

China, the world's second biggest economy, grew by 7.8 per cent in the year to September, pushing the local market to its highest closing level since June 2008.

The benchmark S&P/ASX200 index gained 38.4 points, or 0.73%, to 5,321.5 points.

The broader All Ordinaries index added 39.1 points, or 0.74%, to 5,321.