Australian shares closed around two and a half per cent higher, with the resources sector the strongest performer.
At the close on Thursday, the benchmark S&P/ASX200 index was up 108.8 points, or 2.64 per cent, at 4,228.6, while the broader All Ordinaries index was 103.3 points, or 2.47 per cent, stronger at 4,288.
On the ASX 24, the December share price index futures contract was 115 points higher at 4,229, with 47,129 contracts traded.
The central banks of the eurozone, the United States, Japan, Switzerland, Canada and Britain collectively announced a giant shot in the arm with "liquidity support to the global financial system".
The central banks said they would make funds available to banks at lower interest rates until February 2013 in order to "mitigate the effects of such strains on the supply of credit to households and businesses".
The moves echo similar action in May 2010, when the EU first acknowledged that the Greek drama had become a wider euro crisis causing deep concern among international partners from the United States to Japan.
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