SYDNEY, AAP – Miners benefiting from a higher iron ore price and optimism about Australia’s reopening to overseas travellers helped the ASX close higher.

The market closed up more than one per cent on Tuesday and defied a weak lead from US markets.

Heavyweights BHP and Fortescue gained three per cent each after iron ore prices rose to about $US150 per tonne. Rio Tinto gained two per cent.

Financial and travel shares also did well after Monday’s news that vaccinated foreign visitors will be welcome in Australia from February 21.

The benchmark S&P/ASX200 index closed up 75.9 points, or 1.07 per cent, to 7186.7 points.


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The All Ordinaries index closed higher by 74.8 points, or 1.01 per cent, to 7489 points.

The Australian dollar was buying 71.13 US cents at 1621 AEDT, higher than 70.86 US cents at Monday’s close.