Australia’s share market has closed higher for the fourth consecutive session after banks benefited from a weaker US dollar.

The S&P/ASX200 benchmark index closed up 16.1 points, or 0.25 per cent, to 6547.2 on Thursday.

The All Ordinaries closed higher by 16.2 points, or 0.24 per cent, to 6742.7.

While the ASX opened lower on US coronavirus worries, Deep Data Analytics chief executive Mathan Somasundaram said global investors had bought into Aussie banks due to a weaker US dollar.

The financial and information technology sectors were best, up by 1.19 per cent.

The Aussie dollar was buying 72.93 US cents at 1625 AEDT, lower from 72.95 US cents at Wednesday’s close.