The share market has overcome a late slide to post a fourth straight gain, its longest winning streak since August.

Gains by resources and energy stocks drove a rise of 0.25 per cent, which takes the market’s gain for the week so far past three per cent.

The market was up more than one per cent in morning trade, but shares faded as gains on China’s main market, back from a week-long holiday, disappointed.

“We’re certainly up but we’ve lost a little bit of momentum going into the close, unfortunately,” OptionsXpress market analyst Ben Le Brun said.

“There’s been a bit of disappointment about Shanghai coming back on line under what the market was anticipating in percentage terms.

“So, we’ve seen US futures fade away, and we’ve seen most equity markets in the region fade away.”

Investors were expecting the Shanghai Composite to rise around six to eight per cent as traders caught up with a global market rally, but it had so far generated less than half that lift.

BHP Billiton gained 74 cents to $25.00, Rio Tinto advanced $1.00 to $53.18 and Fortescue Metals surged 11 cents to $2.21.

In the energy sector, Santos lifted 43 cents to $5.50, Origin Energy gained 33 cents to $6.43, while Woodside Petroleum eased 31 cents to $31.79.

Bluescope Steel jumped 12 cents to $3.82 after it said it will shed around 500 jobs at its Port Kembla steelworks operations in NSW.

Gains among the big four banks were modest, while Bank of Queensland jumped 85 cents, or 7.3 per cent to $12.46 after making a record full year profit of $318 million.

KEY FACTS

* At 1622 AEDT on Thursday, the benchmark S&P/ASX200 index was up 12.5 points, or 0.24 per cent, at 5,210.4 points.

* The broader All Ordinaries index was up 13 points, or 0.25 per cent, at 5,241.4 points.

* The December share price index futures contract was up six points at 5,196 points, with 28,236 contracts traded.

* National turnover was 1.54 billion securities worth $4.7 billion.