The Australian sharemarket is stronger for the first time this week, with the All Ordinaries index (XAO) up 0.9 pct or 41.1 pts to 4625.8.

The energy sector is today’s best in terms of percentage gains, after the price of crude oil rose above the US$100 barrel mark for the first time in close to a week. Australia’s second largest oil and gas producer, Woodside Petroleum (WPL) is up 1.45 pct or 65 cents to $45.45 and the smaller Santos (STO) is up 2.45 pct or 34 cents to $14.21.

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Base metal prices rose strongly in U.S and U.K trade overnight and our largest mining stocks are rising impressively after a tough start to the week. BHP Billiton (BHP) is up 1.33 pct or 56 cents to $43.54 and RIO Tinto (RIO) is 1.6 pct or $1.26 higher to $79.98.

The major banks have fallen by more than 4 pct over the week, however are posting healthy gains at lunch. Westpac (WBC) is up 0.64 pct or 15 cents to $21.87, National Australia Bank (NAB) is 0.35 pct or 9 cents stronger to $26.07, ANZ Banking Group (ANZ) is 0.32 pct or 7 cents higher to $21.77 while Commonwealth Bank of Australia (CBA) is easing by 0.14 pct or 7 cents to $49.93.

The defensive healthcare sector is the lone market segment to be trading lower, with the S&P/ASX 200 Healthcare index 0.12 pct or 10.4 pts weaker to 8572.4. Biological therapies developer, Mesoblast (MSB) is the biggest drag on the sector after falling 3.99 pct or 32 cents to $7.70.

Following the end of daylight savings in April this year, major Asian markets will be trading between the hours mentioned below until mid October.

The Hong Kong sharemarket trades in two sessions each day and will now be opening for trade between 11.30am (AEST) and 2pm (AEST) and then between 3.30pm (AEST) and 6pm (AEST) in its second session.

Out of Japan, the first session will be between 10am (AEST) and 12pm (AEST), while the second session is between 1.30pm (AEST) and 4pm (AEST).

The Singapore exchange will be open for trade between 11am (AEST) and 2.30pm (AEST) for the first session and then between 4pm (AEST) and 7pm (AEST) in its second session.

Sharemarkets in the Asian region are stronger, with Japan’s Nikkei 225 up 1.34 pct or 126.05 pts to 9548.9 and South Korea’s KOSPI index up 1.21 pct or 24.69 pts to 2060.56. Both markets are the best performers at lunch. China’s Shanghai Composite is up 0.68 pct or 18.69 pts to 2760.43 and Hong Kong’s Hang Seng is up 0.52 pct or 117.97 pts to 22865.25.

On the economic front, private capital expenditure figures for the previous quarter are released by the Australian Bureau of Statistics (ABS) today. In Japan, the central bank is publishing the latest Corporate Services Price Index (CSPI) today.

The best performing stock at lunch is Magnetic Resources (MAU), which is up 40 pct or 6 cents to 21 cents. MAU is a gold and metals exploration company based in Western Australia.

So far today, 955 million shares have been traded worth $2.03 billion. 564 shares are up, 319 are lower and 371 are currently unchanged.

The Australian dollar is stronger and buys US105.9 cents.

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