SYDNEY, AAP – Australia’s share market has closed at its highest level since February 2020 for a second day, and is nearing the record.

The benchmark S&P/ASX200 index closed higher by 35.5 points, or 0.51 per cent, to 7058.6.

The index traded lower for the first two hours but soon moved higher and continued for most of the session.

The ASX200 is a little more than 100 points from its record close of 7162.49, set on February 20 last year.

The record was set days before investors rushed to sell stocks due to fear of the coronavirus impact.

The All Ordinaries on Thursday closed up by 36.9 points, or 0.51 per cent, to 7317.5 points.

The Australian dollar was buying 77.21 US cents at 1723 AEST, higher from 76.76 US cents at Wednesday’s close.