Shares have jumped soon after the opening of the Australian market, following a strong lead from Wall Street overnight.
The S&P/ASX200 benchmark index was higher by 104.2 points, or 1.79 per cent, at 5919.2 points after the first 15 minutes of trade on Tuesday.
The All Ordinaries index was 105.8 points, or 1.79 per cent higher, at 6021.4.
All sectors were trading higher, led by property stocks – up 2.82 per cent and consumer discretionary shares, higher by 2.76 per cent.
Energy share also rose 2.62 per cent following a rise in crude oil prices, while industrials were up 2.54 per cent.
Overnight, US investors turned optimistic after data showed the number of Americans signing contracts to buy homes rose a record 44.3 per cent in May from a month earlier, far more than the 17 per cent rise economists were expecting.
All three major US indices rose between 1.2 and 2.3 per cent.
The Australian dollar was buying 68.73 US cents at 1015 AEST, slightly lower from 68.84 US cents at the close of trade on Monday.