Australian shares rebounded to start the week, posting solid gains to claw back some of the heavy losses sustained during Friday’s session, as interest-rate sensitive tech and real estate stocks rallied.
The benchmark S&P/ASX200 index advanced 0.8 per cent, or 61.5 points, to close at 7637.4, with all 11 industry sectors finishing in the green.
Meanwhile, the broader All Ordinaries fared slightly better, adding 0.9 per cent, to 7906.6.
The Australian dollar was trading at US65.56c against the greenback at 5pm.
As traders navigated the path of interest rates in Australia and abroad, NabTrade director of investor behaviour Gemma Dale said equity investors were betting that central bankers “would not break the economy” with a resumption of monetary tightening.
“The equity market doesn’t seem to buy an (interest rate) increase,” Ms Dale said.
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