The sharemarket has closed at its best level in almost five years, driven by record US market highs and positive Chinese trade data.
The benchmark S&P/ASX200 index closed up 56.1 points, or 1.09 per cent, at 5199.8 points.
The broader All Ordinaries index was 55.2 points, or 1.08 per cent, stronger at 5177.9.
Resources stocks led the Australian market up near the 5200-points level, the highest close since August 2008.
CMC Markets senior trader Tim Waterer pointed to record closing highs for the Dow Jones Industrial Average and broad-based S&P500 giving the market a psychological boost.
That was reinforced by China recording an $US18.2 billion ($17.95bn) trade surplus in April, reversing a rare deficit in March, following its recent negative manufacturing data.
"There is a heavy concentration of mining stocks in the Australian market, which meant our index reacted well to the healthy picture painted of the Chinese economy," Mr Waterer said.
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"To maintain those elevated levels traders will want to see a continuation of that good data from some of these major economies such as China."
BHP Billiton was up 1.87 per cent, or 63c, to $34.30 while Rio Tinto put on 2.63 per cent, or $1.51, to $58.90.
Most sectors posted gains, with only defensive health stocks making losses.
The major banks rose, with Westpac up 1.14 per cent, or 37c, at $32.95, National Australia Bank lifted 42c, or 1.27 per cent, to $33.37, Commonwealth Bank put on 93c, or 1.32 per cent, to $71.23 and ANZ closed 27c, or 0.87 per cent, higher at $31.46.
Seven West Media was a standout performer, after the company said cost-saving initiatives would increase its net profit by more than $75 million in 2013-14.
Seven West shares closed up 21c, or 10.1 per cent, at $2.30.
The June share price index futures contract was 56 points higher at 5190 with 21,500 contracts traded.
National turnover was 1.88 billion securities worth $5.87bn.
