Australian stocks have soared for a second consecutive session as moves to prevent a major financial meltdown continue.
The ASX 200 climbed 4.5 per cent to 5,020.5, while the All Ordinaries index gained 209.4 points to 5,050.1.
The surge follows the Australian Securities and Investments Commission's move to ease market turmoil by extending a ban on most forms of short-selling.
The tougher stance has sent Australian shares higher for the second session in a row.
Stocks suspected to have been targeted by short-sellers recently soared.
Shares in Babcock and Brown closed 55 per cent higher, Centro Properties Group rose 37 per cent and Fortescue Metals Group gained 25 per cent.
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CNP Price at posting:
8.5¢ Sentiment: Hold Disclosure: Held
