Australian stocks are higher on renewed confidence that the coronavirus outbreak is plateauing.

The benchmark S&P/ASX200 index closed Wednesday up 27.4 points, or 0.39 per cent, at 6,976.1, while the broader All Ordinaries index lifted 33.3 points, or 0.47 per cent, to 7,080.9.

The Australian dollar was buying 67.36 US cents, up from 67.18 US cents on Tuesday.