Australian stocks closed stronger on Monday, although off session highs, as upticks in commodity prices lifted miners and oil companies, while financial shares offered a helping hand. The S&P/ASX 200 index rose 43.791 points or 0.76 percent to 5,771.2 at the close of trade.
Majors BHP Billiton Rio Tinto and Fortescue Metals Group led gains as iron ore prices climbed. Iron ore traded on the Dalian Commodity Exchange jumped more than 3 percent on Monday, while Chinese steel futures hit a nine-week peak. Oil majors Woodside Petroleum and Oil Search rose accordingly, with the energy index ending 2.15 percent higher.
Gains in financials were led by Commonwealth Bank of Australia rising 1.3 percent and Westpac Banking Corp up 0.8 percent. The financials index ended 0.58 percent higher. New Zealand's benchmark S&P/NZX 50 index rose 0.24 percent or 17.39 points to finish the session at 7,409.500.