Aust stocks spike 1.5% despite poor China, local data

Local market shrugs off disappointing data duo, with miners, banks supporting the market.

The Australian stock market spiked 1.5% despite disappointing Chinese inflation data and dire NAB reading on local business confidence.

At the 1615 AEST official market close, the benchmark S&P/ASX200 rose 1.5% to 4,881.7 points, while the broader All Ordinaries index lifted 1.44% to 4,866.5 points.

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