Australian stocks are climbing again in early trade

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Australian stocks are continuing their impressive run in early trade on Thursday morning, pushing higher yet again on the back of strength in energy and mining stocks.

Here’s the early scoreboard after 20 minutes of trade:

ASX 200 5884.20 , 10.68 , 0.18%
All Ordinaries 5919.90 , 9.20 , 0.16%
AUD/USD 0.7664 , -0.0003 , -0.04%

And here’s how individual sectors are performing:

A-REITS 0.20%
Consumer Discretionary -0.30%
Consumer Staples 0.28%
Energy 0.77%
Financials 0.15%
Healthcare 0.43%
Industrials -0.24%
Information Technology -0.29%
Materials 0.48%
Telecommunications 0.17%
Utilities -0.71%
All Ords Gold Index 0.76%

The move higher in the ASX 200 is likely being assisted by strength in crude and commodity prices overnight, along with technical buying following a clear break above the 5,833 level on Wednesday, the previous multi-year high set in February.

Quarter-end flows may also be a factor. So far in the March quarter, the ASX 200 has added 3.9%.

Here’s the daily chart over the past 12 months.

ASX 200 Daily Chart

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