The benchmark S&P/ASX200 (^AXJO) finished the day in the green, up 28.5 points or 0.47 per cent to 6,138.7 points.
At one point in the session, the ASX200 hit a five-month high, trading at 6186.
The broader All Ordinaries index (^AORD) ended Tuesday up 25 points or 0.4 per cent to 6,272.1 points.
What happened this afternoon?
The benchmark S&P/ASX200 (^AXJO) is trading 1.22 per cent higher at 12:16 AEST to 6,184.60 points, buoyed by banks, mining and property stocks.
The broader All Ordinaries index (^AORD) is also 1.12 per cent higher at midday to 6,316.70 points.
What happened this morning?
The benchmark ASX200 is off to a flat start on Tuesday, rising by 9.2 points or 0.15 per cent to 6,119.4 points at 10:16am AEST on Tuesday.
The broader All Ordinaries similarly rose by 7.8 points or 0.12 per cent to 6,254.9 points.
It comes off the back of a mixed Monday on Wall Street overnight: the Dow and the S&P500 both gained 1.3 per cent and 0.3 per cent respectively, while the NASDAQ slipped by 0.4 per cent.
The Aussie dollar has slipped by 0.1 per cent, but is still worth 71.5 US cents.
What happened overnight?
Over in the US, investors awaited news on the progress of a US fiscal support bill.
The NASDAQ was hitting a new record high every day last week, but overnight was dragged down by tech giants Microsoft, Amazon and Facebook.
Meanwhile, the S&P 500 is getting a decent lift on bets of a potential Covid-19 vaccine, fiscal and monetary stimulus, and a better-than-expected earnings season.
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