Banks, miners lead Australian share market to new highs

The broader All Ordinaries rose 78.3 points, or 0.87 per cent, also to a record-high close of 9,107.1, after hitting a peak of 9,115.4 during the session.

Materials, energy and consumer discretionary stocks led 10 of 11 local sectors higher, while interest rate-sensitive segments such as financials, real estate and IT stocks surged on expectations of cheaper incoming borrowing costs in Australia and the United States.

The Australian dollar is higher against most major currencies, buying 64.88 US cents, up from 64.60 US cents on Tuesday at 5pm.