The Australian share market has closed higher, finishing above 5,600 for the first time since the global financial crisis.

At the close on Wednesday, the benchmark S&P/ASX200 index was 34.5 points, or 0.62 per cent, higher at 5,622.9, while the broader All Ordinaries index was up 34.5 points, or 0.62 per cent, at 5,615.1, according to preliminary figures.

On the ASX 24, the September share price index futures contract was 32 points higher at 5,571, with 24,664 contracts traded.