Australian stocks jumped higher in early trade.
A short time ago, the ASX 200 was at 4,996, up 73.75 points or 1.50%.
Local investors were buoyed by a stronger Wall Street. The S&P 500 was up 2% overnight, led by financial and tech stocks. Automotive stocks also rallied on US car sales hitting 15-year highs in February.
On the local market, bank stocks and the big miners rallied.
The ANZ was up 3.5% to $23.88, BHP 2% to $16.360 and Woodside Petroleum 3.4% to $26.69.