SYDNEY, AAP – Australia’s share market has bucked a downwards trend across Asia and closed higher.

The S&P/ASX200 benchmark index closed up by 33.4 points, or 0.5 per cent, to 6778.8 on Wednesday.

The All Ordinaries closed higher by 27.3 points, or 0.39 per cent, to 7013.9.

The health sector proved best, up 1.87 per cent.

Most Asian markets were down after a negative lead from markets in the US, where financial authorities discussed tax hikes to pay for economic stimulus.

The Australian dollar was buying 75.98 US cents at 1617 AEDT, lower from 76.92 US cents at Tuesday’s close.