However, market gains capped ahead to a critical release Tuesday on US consumer prices, followed by Thursday's report on retail sales -- the last major data ahead of the Federal Reserve's interest rate move next week.
At closing bell, the benchmark S&P/ASX200 index was up 45.22 points, or 0.65%, to 7,009.69. The broader All Ordinaries index advanced 45.53 points, or 0.63%, to 7,253.69
The top performing stocks in this index were NICKEL INDUSTRIES and MESOBLAST, up 6.7% and 5.8% respectively. The bottom performing stocks in S&P/ASX200 index were TYRO PAYMENTS and IMUGENE, down 5.1% and 4.3% respectively.
Materials and resources stocks were higher as iron ore prices rose to a 2-week high. Rio Tinto rose 0.7%, while BHP Group and Fortescue Metals shed 0.3% and 0.9%, respectively.
Financials were higher, with the Big Four banks gaining between 0.6 and 1.7%.
Among individual equities, Ramsay Health Care slid 10% after a KKR-led consortium said it will not improve its US$14.5 billion cash-and-stock offer for the hospital operator.
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