The Australian share market has rallied in a strong session that made up nearly all of its losses from its three-day losing streak.
The benchmark S&P/ASX200 index finished near the highs of the day on Thursday, climbing 77.3 points, or 0.95 per cent, to 8,203.7.
The broader All Ordinaries gained 90 points, or 1.09 per cent, to 8,462.8.
IG market analyst Tony Sycamore said Australian shares had been propelled higher by Wednesday's cooler domestic inflation readout and a Bloomberg News report that Beijing was weighing a potential 1 trillion yuan ($A207 billion) injection into China's state banks, to be funded by sovereign bonds.
Every sector of the ASX finished higher except for energy, which dipped 1.1 per cent.
The consumer discretionary sector and tech sectors were the biggest gainers, both climbing two per cent.
Kmart owner Wesfarmers added 1.5 per cent, JB Hi-Fi rose 3.0 per cent and Wisetech Global gained 2.8 per cent.
There was more evidence on Thursday of a rotation out of Australia's big four banks - which are near their highest level in years - and into the beaten-down major miners.
The shift began Tuesday, following the announcement of Chinese monetary stimulus measures.
The banks were mostly lower, with Westpac down 0.7 per cent to $32.34, CBA dipping 0.4 per cent to $134.35, and ANZ edging 0.1 per cent lower at $30.75. NAB was the outlier, gaining 0.4 per cent to $37.61.
In contrast, BHP rose 1.6 per cent to $43.36, Fortescue rose 2.9 per cent to $19.40 and Rio Tinto advanced 2.0 per cent to $123.22.
Goldminers also did well after the yellow metal hit another all-time high at $US2,670 overnight, as bets rose that the US Federal Reserve would opt for another double-sized interest rate cut in November.
Evolution rose 2.7 per cent, Northern Star added 0.6 per cent and Bellevue Gold climbed 5.3 per cent.
Uranium companies posted some of the strongest gains on the bourse for a fourth straight day, following word over the weekend that a shuttered US nuclear reactor would be reopened to power AI centres.
Paladin Energy rose 7.6 per cent, Boss Energy climbed 5.4 per cent and Deep Yellow advanced 4.8 per cent. All three finished at roughly two-month highs.
But Woodside dropped 2.7 per cent and Santos fell 2.3 per cent after oil prices dropped more than two per cent overnight.
Back in the building sector, Brickworks gained 7.2 per cent to $28.52, also a two-month high, after the building material company raised its final dividend for the 11th straight year.
Brickworks also announced that with residential approvals in Australia at their lowest level in more than a decade, it was implementing a range of restructuring initiatives to remove costs. Typically that means lay-offs.
In currency, the Australian dollar pulled back after hitting a 19-month high of 69.08 US cents on Wednesday.
The Aussie was trading for 68.67 US cents, from 68.81 US cents at Wednesday's ASX close.
ON THE ASX:
* The benchmark S&P/ASX200 index finished Wednesday up 77.3 points, or 0.95 per cent, at 8,203.7
* The All Ordinaries gained 90 points, or 1.07 per cent, at 8,462.8
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 68.67 US cents, up from 68.81 US cents at Wednesday's ASX close
* 99.50 Japanese yen, from 98.77 Japanese yen
* 61.55 euro cents, from 61.48 euro cents
* 51.42 British pence, from 51.35 pence
* 109.22 NZ cents, from 108.77 NZ cents
