THE Australian sharemarket yesterday closed higher thanks to strong performances among its Asian counterparts.
Despite falls in commodity prices the big miners performed well and investors supported the banking sector. 
IG Markets analyst Angus Nicholson said the local market opened flat but made gains later in the day.
"We moved higher after strong moves in the Japanese market," Mr Nicholson said. "The oil price also increased in the Asian session and that helped equity moves." Healthcare stocks were some of the best performers thanks to the weak local currency: "It's a real boon for exporters. That fits the bill for healthcare." The benchmark ASX 200 index was up 29.9 points, or 0.6 per cent, at 5358.9 points while the broader All Ordinaries index was up 24 points, or 0.5 per cent, at 5420.3.
Among the big miners, Rio Tinto was up 56c at $45.21, BHP Billiton gained 36c to $18.56, while Newcrest Mining lifted 22c to $21.10.
In the banking sector, Westpac was up 25c at $30.04, ANZ rose 20c to $24.31, National Australia Bank added 8c to $29.02 and the Commonwealth Bank found 61c to $78.Healthcare stocks and other exporters performed well, with vaccines and blood products group CSL up $2.10 at $112.95 and medical device manufacturer Cochlear gaining $3.79 to $115.63.