Australian Stock Index Soars Nearly 2%

Australian stocks started Thursday trading slightly above the previous trading day's closing level, before prices started to surge and ended the day nearly 2% higher than the previous trading day's close. The All Ordinaries Index of Australian stocks traded between 4,676.80 and 4,770.80 and ended the day up 1.82% at 4,761.80. Financial stocks like Westpac Banking Corporation WBK and mining companies such as BHP Billiton Limited BHP led the way for a rise in Australian stock prices. Investors who would like to invest in a broad range of Australian equities might want to consider the iShares MSCI Australia Index EWA, which seeks to provide investment results that correspond generally to the price and yield performance of publicly traded securities in the Australian market, as measured by the MSCI Australia index. Read more from Benzinga's ETF news.