Aust stocks close 1% higher
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The Australian stock market gained more than one per cent today, bucking the trend of weaker global bourses and rebounding from yesterday's losses.
At the 1615 AEST official market close, the benchmark S&P/ASX200 index added 1.07 per cent to 5,064.8 points, while the broader All Ordinaries index gained 1.01 per cent to 5,047.1 points.
CMC Markets analyst Betty Lam said the local market moved higher in early trade despite lower Wall Street leads.
"The worst performers from yesterday’s deluge were well recuperated as we see yield-play back in full swing," Ms Lam said.
Unemployment data released today showed the jobless rate steady at 5.7 per cent due to lower workforce participation, as the economy shed 10,200 jobs.
"The market was quick to “knee-jerk” react to the unchanged rate, racking up 10 points and shedding it almost as swiftly," she said.
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