The S&P/ASX 200 index rose by 0.66 per cent to reach 6,994.60, driven by robust performances in the energy, mining, gold, and lithium sectors, which benefited from a rebound in commodity prices.
This increase coincided with the continuation of gains in iron ore futures, driven by optimism surrounding China's property market.
Additionally, investors are closely watching forthcoming US inflation data for clues about potential shifts in interest rates.
Futures
The SPI futures are up 50 points.
Best and worst performers
The best-performing sector is Energy, up 2.25 per cent. The worst-performing sector is Utilities, down 1.57 per cent.
The best-performing large cap is ALS (ASX:ALQ), trading 7.02 per cent higher at $11.43. It is followed by shares in Worley (ASX:WOR) and Mineral Resources (ASX:MIN).
The worst-performing large cap is National Australia Bank (ASX:NAB), trading 3.46 per cent lower at $27.90. It is followed by shares in Origin Energy (ASX:ORG) and Infratil (ASX:IFT).
Asian markets
Japan's Nikkei has gained 0.53 per cent.
Hong Kong's Hang Seng has lost 0.20 per cent.
China's Shanghai Composite has lost 0.26 per cent.
Commodities and the dollar
Gold is trading at US$1,948.70 an ounce.
Light crude is trading $0.17 higher at US$78.43 a barrel.
One Australian dollar is buying 63.68 US cents.
