The benchmark S&P/ASX200 index on Friday finished 49.3 points higher at 8,250.5 - a gain of 0.6 per cent - while the broader All Ordinaries rose 46.9 points, or 0.55 per cent, to 8,511.9.
The ASX200 dipped 0.14 per cent for the holiday-shortened week after losing ground on Monday and Tuesday.
The ASX200 opened about 20 points higher and climbed further after the Financial Times reported that China's central bank said it was likely to cut interest rates from their current level of 1.5 per cent "at an appropriate time" in 2025.
The People's Bank of China said it would prioritise "the role of interest rate adjustments" in what the Financial Times described as a transformation of Chinese monetary policy.
Ten of the ASX's 11 sectors finished higher, with materials/mining the outlier, dropping 0.2 per cent.
Energy was the biggest mover for a second day, rising 1.3 per cent amid more gains for uranium developers after Canada's Cameco said its Inkai joint venture in Kazakhstan had been forced to suspend production because of a lapse in government authorisation.
"We are disappointed and surprised by this unexpected suspension and we will be seeking further clarification on how this transpired," Cameco said in a statement.
Deep Yellow, Boss Energy and Paladin were the ASX200's best performers on Friday, with gains of 9.4, 5.2 and 4.3 per cent respectively.
Goldminers also did well as the precious metal changed hands at a two-week high of $US2,658 an ounce.
Northern Star gained 2.0 per cent, Evolution rose 1.2 per cent and Newmont advanced 3.2 per cent.
Elsewhere in the sector, BHP dropped 0.5 per cent to $39.76, Rio Tinto retreated 0.6 per cent to $117.47 and Fortescue dropped 2.1 per cent to $18.41.
All of the big four banks were higher, with CBA rising 1.0 per cent to $155.03, ANZ adding 0.9 per cent to $28.86, NAB advancing 0.8 per cent to $37.55 and Westpac climbing 0.7 per cent to $32.64.
In health care, EBR Systems surged 24.1 per cent in afternoon trading to an all-time high of $1.365.Â
There was no obvious reason, but the company expects to soon receive feedback from US regulators on its leadless pacemaker system.
The Australian dollar meanwhile was buying 62.16 US cents, up from 62.13 US cents at Thursday's ASX close.
ON THE ASX:
* The benchmark S&P/ASX200 index on Friday gained 49.3 points, or 0.6 per cent, to 8,250.5
* The broader All Ordinaries rose 46.9 points, or 0.55 per cent, at 8,511.9
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 62.16 US cents, from 62.15 US cents at Thursday's ASX close
* 97.81 Japanese yen, from 97.68 Japanese yen
* 60.55 euro cents, from 59.97 euro cents
* 50.17 British pence, from 49.60 pence
* 110.87 NZ cents, from 110.71 NZ cents
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