The Australian sharemarket surged on Monday, recovering from losses of 2.7% recorded last week as Federal Reserve policymakers adjusted their interest rate outlook.
The ASX 200 climbed 134.6 points, or 1.7%, to close at 8,201.6, with all 11 sectors finishing in positive territory. Gains were led by financials, real estate, and consumer discretionary stocks.
Among the major banks, Commonwealth Bank advanced 2.9%, Westpac rose 2%, and National Australia Bank added 2.1%.
Real estate stocks also outperformed, with Mirvac Group up 3.4%, Goodman Group gaining 1.8%, and Charter Hall rising 3.1%.
Consumer discretionary stocks added 2.3%, driven by a 3.3% jump in News Corp after agreeing with Australian telecom Telstra to sell their subscription television service Foxtel to global sports streaming giant DAZN.
On the bond markets, 10-year rates shed 0.7% to 4.411% and 2-year yields lost 0.6% to 3.943%.