* Local media reports Queensland state set to end virus curbs
* Financials gain 1.3% with all “Big Four” banks in the black
* China’s economy bounced back last quarter from virus jolt
Jan 19 (Reuters) - Australian shares climbed 1% on Tuesday as investors bet on news that Queensland state was set to lift virus-led restrictions and on prospects of better production numbers from local miners, helped by improved industrial activity in top consumer China.
The S&P/ASX 200 index rose 1% to 6,729.6 by 0014 GMT. The benchmark closed 0.8% lower on Monday.
Data on Monday had confirmed China’s economy was one of the few in the world to grow over 2020 and actually picked up speed as the year closed.
Local media on Tuesday reported here Queensland Premier Annastacia Palaszczuk as saying that the state was "on track" to lift coronavirus-led restrictions on Friday, while New South Wales said it recorded zero new local cases in the 24 hours up to Monday night.
Financials climbed 1.3%, with the so-called “Big Four” banks advancing between 0.7% and 1.3%.
Healthcare stocks rose 1%, helped by heavyweight CSL Ltd gaining 1.3%.
“A lot of the early movement seems to be a bounce back from yesterday’s losses in the absence of direction from the U.S. markets and lack of big news on the domestic fight against the virus,” said James Tao, market analyst at CommSec.
Miners gained ahead of production results by BHP Group later in the week, and helped by higher iron ore prices that were boosted by China’s robust GDP growth.
Global miner Rio Tinto on Tuesday reported a 2.4% rise in quarterly iron ore shipments as industrial activity in top consumer China grew.
Industrial stocks were also trading higher, with toll road operator Transurban Group gaining 1.1%.
Meanwhile, Bingo Industries was the biggest gainer on the benchmark, soaring 23.7% after the waste management company said it received a cash buyout offer from a consortium valuing the firm at A$2.29 billion ($1.76 billion).
In New Zealand, the benchmark S&P/NZX 50 index fell 0.3%, hurt by utility and healthcare stocks.
Reporting by Soumyajit Saha in Bengaluru, Editing by Sherry Jacob-Phillips