Australia stocks were ripping higher for the second day in a row.
A short time ago, the ASX 200 was at 5,112.30, up 83.85 points or 1.67%.
Investors followed Wall Street where stocks rallied after suggestions further interest rate rises will be gradual. The S&P 500 closed 1.5% higher.
On the local market, all ten sectors were stronger, adding to yesterday’s 2.42% rise.
The major banks and financial stocks were leading the pack. The ANZ was up more than 2% to $26.53.
BHP was slightly weaker at $17.07, down 0.6%, but Rio Tinto was up more than 2% to $43.92.
Energy stocks suffered from a drop in the price of oil. Santos was down 0.7% to $3.425 and Woodside Petroleum 0.4% to $26.94.
But Caltex jumped more than 11% to $38.30 on an improved full year profit outlook of between $560 million to $580.