SYDNEY: Energy stocks led the Australian sharemarket higher at the open following a late rally on Wall Street.
At the 10.15am (AEST) official market open, the benchmark S & P/ASX200 lifted 33.1 points, or 0.59 per cent, to 5,610.5, while the broader All Ordinaries index added 31.8 points, or 0.57 per cent, to 5,593.7.
Rivkin Securities chief executive Scott Schuberg said local markets would be paying close attention to Chinese GDP figures, which are released at noon today.
“Traders will continue to focus on imports/exports as well as demand as it is seen from an exporters point of view, so we’ll see whether the release of these figures has much of an impact on Asian markets,” Mr Schuberg said.
But the price action on Chinese stock markets and the outcome of the lifting of a suspension on 1300 stocks would likely have a more significant impact than the GDP numbers, he added.
