Rallies across Asia and on Wall Street have translated into gains on the European sharemarkets, which have opened higher.
The Australian dollar is lower despite getting a boost from speculation weak Chinese data will spark stimulus measures.
The Australian share market has closed higher on the back of a positive US lead and solid production reports from some big miners.
BHP lifted iron ore guidance on a day that bad economic news in China meant good news for the outlook for the steel making commodity.
Stocks of interest on the Australian Securities Exchange at the close on Wednesday
Fortescue Metals plans to boost quarterly production by 35 per cent over the next three months as the weather improves and the company hits full production
Funds manager Lincoln Indicators says two-thirds of the companies on the Australian share market face rising degrees of risk.
The company rolling out the NBN says a plan from TPG Telecom to connect lucrative inner-city customers to its own network undermines its business model.
A survey shows that the number of foreign buyers for Australian homes has jumped greatly in the March quarter.
China's economy has grown 7.4 per cent in the March quarter, beating forecasts of 7.3 per cent GDP growth but still showing the nation's economy is slowing
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