The local share market has rebounded from its morning losses to finish higher, snapping a four-day losing streak.
The benchmark S&P/ASX200 index was down by as much as 0.3 per cent on Monday morning but climbed into positive territory in the afternoon to finish on the highs of the day, up 35.6 points, or 0.5 per cent, to 7,192.3.
The broader All Ordinaries rose 29.7 points, or 0.4 per cent, to 7,387.8.
J.P. Morgan head of international market intelligence Krupa Patel said risk sentiment was cautiously optimistic.
Over the weekend, consumer price index data released in Beijing showed deflationary pressure eased last month amid signs of stabilisation in the world's second-biggest economy.
Markets were also digesting hawkish comments by Bank of Japan Governor Kazuo Ueda, who said an end to the country's negative interest rates was possible - a move that would have global ramifications.
Seven of the ASX's 11 sectors finished higher, with financials making the most gains, rising 1.3 per cent.
The Big Four banks all turned in a solid performance, with Westpac rising 1.8 per cent to $21.55, ANZ and NAB both adding 1.4 per cent, to $25.28 and $29.05, respectively, and CBA adding 1.2 per cent to $102.04
Bendigo and Adelaide Bank grew 2.5 per cent to $9.21 after announcing former Suncorp Bank CEO David Foster would succeed Jacqueline Hey as chair following the regional bank's annual general meeting on October 24.
Ms Hey, the bank's first woman chair, is retiring after 12 years on the board, including four as chairwoman, which she called a highlight of her career.
Sims was the biggest loser among the ASX200, dropping 10.6 per cent to $13.79 after the electronics and metal recycler announced weak global market conditions had not abated and the previously resilient US market was now showing signs of weakness. Sims is expecting to just break even in the first quarter.
On the flip side, Syrah Resources was the biggest ASX200 gainer, up 7.0 per cent to 61c after two subsidiaries were approved for a $US150 million ($A233 million) loan to support their graphite operations in Mozambique as part of the Biden administration's efforts to foster trade and partnerships between the US and Africa.
Elsewhere in the mining sector, Fortescue added 1.2 per cent to $19.63, while BHP and Rio Tinto both gained 1.1 per cent, to $43.66 and $112.40, respectively.
Liontown dipped 1.3 per cent to $3.01 as the emerging lithium producer announced US lithium giant Albermarle had signed non-disclosure agreements and would soon begin examining Liontown's books with an eye to firming up its $3-per-share, $6.6 billion tentative takeover offer.
The Australian dollar was at a six-day high against its US counterpart, buying 64.39 US cents, from 64.07 US cents at Friday's ASX close.
ON THE ASX:
* The S&P/ASX200 index finished Monday up 35.6 points, or 0.5 per cent, at 7,192.3.
* The All Ordinaries gained 29.7 points, or 0.4 per cent, to 7,387.8.
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 64.39 US cents, from 64.07 US cents at Friday's ASX close
* 94.09 Japanese yen, from 94.21 Japanese yen
* 59.99 Euro cents, from 59.69 Euro cents
* 51.43 British pence, from 51.24 pence
* 108.65 NZ cents, from 108.34 NZ cents