Aust stocks rally past 5,000 at close

Local market pares strong early gains to close more than 0.5% higher.

Investors sent the Australian stock market past the key 5000 psychological threshold at the close for the first time in two months, as investors took heart from Japan's endorsement of "Abenomics" and Chinese interest rate reforms.

It comes after a week of lacklustre trade that saw investors repeatedly flirt with the 5000 level before the benchmark inched to a weekly loss of just 0.04%. 


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