The share market has hit a two month high as sentiment is boosted by economic stimulus measures in China.
The benchmark S&P/ASX200 is up 0.4 per cent to its highest level since mid-August, driven by gains in the financial, mining and healthcare sectors.
The resources sector was higher despite falls in many commodity prices, with Rio Tinto up 1.4 per cent and BHP Billiton 0.85 per cent higher.
All four major banks had added value, with Westpac’s 1.1 per cent rise the largest, while insurers Suncorp and QBE were making similar gains.
CSL was leading the way in the healthcare sector, up 1.55 per cent.
Monday’s rise for the market comes after the People’s Bank of China cut interest rates and lowered the required amount of cash banks must keep in reserve, as it seeks to address slowing economic growth.
KEY FACTS
* At 1200 AEDT on Monday, the benchmark S&P/ASX200 index was up 23 points, or 0.43 per cent, at 5,374.8 points.
* The broader All Ordinaries index was up 23.6 points, or 0.44 per cent, at 5,411.7 points.
* The December share price index futures contract was 33 points higher at 5,356 points, with 13,913 contracts traded.
* National turnover was 1.2 billion securities worth $1.6 billion.
