Australian shares rebounded on Wednesday as the financials sector managed to pare back sharp losses in tech stocks.
The benchmark S&P/ASX200 eked out a 0.1 per cent, or 9.3 point, increase to 7733.5, while the broader All Ordinaries added just two points to 7990.3.
The Australian dollar pushed higher against the greenback to buy US65.19c.
Fresh GDP numbers released by the Australian Bureau of Statistics on Wednesday showed the economy expanded by just 0.2 per cent in the December quarter — in line with consensus forecasts.
“The Australian economy is in the midst of a cyclical low point, with policy settings and fast inflation curbing growth,” Oxford Economics head of macroeconomic forecasting Sean Langcake said.
The share market snapped a two-day losing streak after a late rally in financial stocks on Wednesday. Pictu...
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