The Australian Market Went On A Tear

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The ASX jumped 1.25% on opening following a strong lead from Wall Street.

The S&P/ASX 200 hit its fifth straight positive trading day. It closed up 0.9% to 5,319.4,supported by bargain hunters.

Among the banks, the ANZ was up 1.42% to $33.57 and the ANZ 1.64% to $32.45.

CommSec says mining stocks are continuing to improve after being the best performers last week. The S&P/ASX 200 Materials Index is up 1.12%.

BHP was up 1.32% to $33.84.

In the region today, Japan’s Nikkei 225 was up 3.77% and Hong Kong’s the Hang Seng was firmer by 0.52%.

On Friday the US S&P500 closed up 1.3% to 1886.76.

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