The Australian share market has closed higher after a cut to China’s interest rates and ahead of a rate decision by Australia’s Reserve Bank.

At the close on Monday, the benchmark S&P/ASX200 index was 30.1 points, or 0.51 per cent, higher at 5,958.9, while the broader All Ordinaries index was up 27.8 points, or 0.47 per cent, at 5,926.3, according to preliminary figures.

On the ASX 24, the March share price index futures contract was 23 points higher at 5,937, with 23,464 contracts traded.