The ASX Had A Good Day Today, With Mining Stocks Up On Last Week's Chinese Data

The ASX 200 closed up 1.06% at 5,108.70 today, driven by significant gains in the mining sector.

The Australian reports that BHP, Rio Tinto and Fortescue Metals rose between 2.4% and 7.5% after data released by China last week indicated that Chinese economic growth was stablising.

The ASX 200 resources index surged 2.47% to 4090 – the highest since March. Newcrest Mining rose 7.93% despite posting its largest loss in decades.

Commonwealth Bank shares also rose 1.33% in advance of its results announcement on Wednesday, while shares in salary packaging company McMillan Shakespeare rose 8.93% on expectations that the Labor party would lose the election.

Via investing.com, here’s what happened:

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