At closing bell, the benchmark S&P/ASX200 index was up 60.04 points, or 0.86%, to 7,068.92. The broader All Ordinaries index climbed up 62 points, or 0.86%, to 7,263.10.
The top performing stocks in the S&P/ASX 200 Index were PEXA GROUP and LINK ADMINISTRATION HOLDINGS, up 6.42% and 5.97% respectively. The bottom performing stocks in S&P/ASX200 index were IMUGENE and EVOLUTION MINING, down 4% and 3.2% respectively.
Total 9 of 11 sectors ended higher along with the S&P/ASX 200 Index. Information Technology was the best performing sector, gaining 2.42%, followed by healthcare (up 1.55%), consumer staples (up 1%), A-REIT (up 0.96%), financials (up 0.9%), and materials (up 0.9%) sectors.
Shares of technology rebounded strongly, on tracking gains in their Wall Street peers, with Block Inc's ASX-listed shares SQ2.AX gaining 4.1% and Xero XRO.AX rising 2.3%.
Shares of materials and resources were also higher. Sector majors Rio Tinto and BHP Group rose 1.2% and 0.9%, respectively.
Gold stocks declined on profit taking, after a three-session rally. Gold prices fell on Tuesday after surging over 2% in the previous two sessions. Bellevue Gold plunged 9.7% and Northern Star Resources dived 2.3%.
CURRENCY NEWS: The Australian dollar was stood at 0.6686 against greenback on Wednesday, recovered 0.13% from previous trading day closure at 0.6679 after trading in the range of 0.6676-0.6712. The boost came after China released its latest data, confirming its economy was recovering from the damage of prolonged COVID lockdowns.
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