End-of-day summary:
The share market climbed the wall of worry for a second day as positive US leads helped offset weak economic data and calls from the International Monetary Fund for higher rates.
Property stocks, healthcare providers and energy producers spearheaded a 58-point or 0.85% advance for the ASX 200. Rio Tinto, Goodman Group and Fortescue Metals did much of the heavy lifting. Newmont, Woolworths and Macquarie Group were amongst the session's biggest drags.
A second night of gains on Wall Street encouraged buyers despite headwinds this session. The S&P 500 rallied 0.65% overnight ahead of an interest rate announcement tonight from the Federal Reserve.
The session back home brought a 12-year high in bond yields and further evidence that the economy is losing momentum under higher rates. The yield on 10-year Australian government bonds traded briefly above 5% for the first time since 2011 after the IMF called for higher rates. The RBA meets next week.
Meanwhile, gauges of domestic manufacturing activity and building approvals both contracted, along with a measure of Chinese factory activity.
