The Australian share market has jumped more than 3.0 per cent taking the lead from strong gain on Wall Street overnight.
The S&P/ASX200 benchmark index was higher by 187.5 points, or 3.13 per cent, at 6186.2 points after the first 15 minutes of trade on Tuesday.
The All Ordinaries index was 186.9 points, or 3.06 per cent higher, at 6303.4.
The financial sector led the gains, surging by 5.24 per cent, followed by energy, up 4.37 per cent.
Only the health sector index was in negative territory, down 0.97 per cent.
Overnight, the Nasdaq closed at a record high, becoming the first of the major US indexes to confirm a new bull market, while the Dow and S&P 500 also jumped on expectations for a swift recovery from a coronavirus-driven downturn.
A closely-watched monthly jobs report on Friday showed an unexpected fall in the unemployment rate, bolstering views that the worst of the economic damage from the virus outbreak was over.
Meanwhile, the Australian dollar has continued to climb after stronger risk appetite among investors helped it touch its highest level since July last year.
It was buying 70.39 US cents at 1015 AEST, up from Friday’s close of 70.02 US cents.