The Australian stock market is following the rise of the US stock market, with mining and finance stocks driving the index higher.

The Australian S&P/ASX200 index rose 0.9% to 8,523.70, as Nvidia's strong performance boosted investor confidence in the artificial intelligence sector. Mining and financial stocks drove the index higher. Australia's largest stock by market value, Commonwealth Bank, played a significant role in supporting the S&P/ASX 200 index, ending a four-day decline with a 1.3% increase. The New Zealand S&P/NZX 50 index rose 0.6% to 13,408.45.