Australian stocks overcame the two-week red atmosphere and saw the rise, and that by 91.1 points amounting to 4173.4 and the broader Ordinaries index rose to 89.1 points or by 2.15%. The credit of the jump has been given to the Asian investors.

The ones which best performed were Caltex Australia which increased to 42 cents or to 4.3%, to $10.26; Brewer Foster's Group rose at $4.99 after reporting a full year loss of $89 million; Oil Energy climbed to 68 cents, to $14.16 and had 30% increase in the full-year profit for 2011-12.

In the banks, ANZ climbed to 52c at $19.82; Westpac rose to 70 cents at $20.06; National Australia Bank was 70cents up at $22.91 and Commonwealth Bank gained $1.11 or 2.42% at $47.01.

And, Sonic Healthcare dropped by 23cents or 2% to $11.29.

The price of gold in Sydney was even higher than yesterday, reaching $US1889.60 per fine ounce. Australian dollar was found to be stronger than Japanese Yen, as against the Yen, the dollar was Y80.315, up from Y79.63.

Ric Spooner, Chief Market Analyst at CMC Markets said, "When investors get a sense that markets are leaving the headlines, they can start to contemplate the possibility of recession being avoided and share valuations looking attractive at these levels”.