SYDNEY, AAP – Investors recovered almost all their early losses on the ASX as the nation managed to stave off another coronavirus recession.
The ASX 200 had been down by 0.6 per cent after widespread selling in the first 90 minutes of trading on Wednesday.
However the index began improving after Asian markets opened and investors learned the Aussie economy grew by a better-than-expected 0.7 per cent during the June quarter.
The benchmark S&P/ASX200 index closed lower by 7.8 points, or 0.1 per cent, to 7527.1.
The All Ordinaries closed down 10.4 points, or 0.13 per cent, to 7812.9.
Energy shares proved best.
The Australian dollar was buying 73.30 US cents at 1623 AEST, lower than 73.38 US cents at Tuesday’s close.