Australia market rebounds 2.4%

Australian share market ended sharply higher on Wednesday, 16 December 2015, as bottom fishing emerged on heavily battered stocks following yesterday's close at lowest level in two-and-half years. Meanwhile, positive finish of Wall Street overnight, as well as rebound in crude oil, base metal and bullion prices also aided risk sentiments. Most of ASX industry groups advanced, with rally being led by shares of materials, energy, realty, and financials issues. At the close, the benchmark S&P/ASX 200 index rebounded 118.80 points, or 2.42%, to finish at 5028.40 points. The benchmark index closed yesterday at 4909.60, a lowest level not seen since July 10, 2013, when it closed at 4901.40.

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