* 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
By Soumyajit Saha
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 .AXJO 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. media on Tuesday reported https://www.afr.com/politics/federal/world-on-brink-of-catastrophic-moral-failure-who-20210119-p56v38 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 .AXHJ rose 1%, helped by heavyweight CSL Ltd CSL.AX 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 .AXMM gained ahead of production results by BHP Group BHP.AX later in the week, and helped by higher iron ore prices that were boosted by China's robust GDP growth. IRONORE/
Global miner Rio Tinto (LON:RIO) RIO.AX on Tuesday reported a 2.4% rise in quarterly iron ore shipments as industrial activity in top consumer China grew.
Industrial stocks .AXNJ were also trading higher, with toll road operator Transurban Group TCL.AX gaining 1.1%.
Meanwhile, Bingo Industries BIN.AX 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). New Zealand, the benchmark S&P/NZX 50 index .NZ50 fell 0.3%, hurt by utility and healthcare stocks.