MELBOURNE: Australian stocks rose 1.1 percent on Monday to 10-month highs, with banks and miners showing strength and heavyweight BHP Billiton up almost 2 percent to reach its highest level since May 2008 after Chinese copper imports beat expectations.
China's copper imports unexpectedly rose 5.7 percent on the month in January, boosting the shares of Australian miners, already supported by easing tensions in the Middle East and a surge in U.S. stocks.
The benchmark S&P/ASX 200 index rose 54.9 points to 4,935.8, according to the latest data, its highest since April 2010.
New Zealand's benchmark NZX 50 index rose 0.5 percent to 3,383.5.
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