Overnight gains on Wall St have flowed through to the Australian Stockmarket. There are gains in the majority of the sectors.
Resources are mostly tracking a surge in the Baltic Dry Index, driven up by favourable Chinese economic data this week.
BHP up 1.83% to $32.20 and NCM up 5% to $31.61. Rio was up earlier by 3% but has since seen some profit taking back to down 1.75% at $46.57
Financials were mostly up with the exeption of NAB, down 1%, after warning of an increase in bad debts.
Overall the ASX200 is up 46 points at the moment.
In Tokyo The Nikkei gained about 2.5% or 199 points, with shipping shares leading the way in Asia. A softer YEN also helped lift exporter shares.
