Australia’s share market is on a broad-based rally after three days of coronavirus-related losses, with property leading gains.
The S&P/ASX200 benchmark index was higher by 35.5 points, or 0.53 per cent, to 6635.1 at 1200 AEDT on Wednesday despite a mixed lead from Wall Street.
The index reached a session high of 6661.2 before easing.
The All Ordinaries was up 37.6 points, or 0.54 per cent, to 6883.1.
Property was the top sector, higher by 1.94 per cent. Financials and energy were higher by 0.52 and 0.9 per cent respectively.
The materials sector was the only one lower, down 0.57 per cent, after the iron ore price fell.
Results have been better than in the US, where weak economic data and lingering concerns over a new variant of COVID-19 in the United Kingdom weighed on sentiment.
In Australia, NSW authorities look to be making progress in controlling the Sydney coronavirus outbreak after only new eight infections were detected.
There have been 97 infections in total.
On the ASX, employee services provider Smart Group Corporation was among the best performers, higher by 7.93 per cent to $6.80.
Ahead of its full-year results, Smart Group said it improved its earnings margin to 44 per cent for its second half. This was better than the 43 per cent for the first half.
Fashion retailer City Chic was up 5.86 per cent to $3.79 after completing its purchase of UK fashion chain Evans.
Travel stocks were doing better. Airline Regional Express was up 6.03 per cent to $2.02 after it said it would ask shareholders to vote for it to start flying between major Australian cities at its annual general meeting on January 29.
The airline has already outlined plans to fly between Sydney and Melbourne, and other major Australian cities, but needs shareholder approval to issue up to $150 million in convertible notes to PAGAC Regulus Holding.
Air New Zealand was higher by 4.74 per cent to $1.65.
In banking, the big four as well as Bendigo gained by less than one per cent.
Miners were a different story. BHP shed 0.88 per cent to $42.51, Fortescue gained 0.25 per cent to $23.54 and Rio Tinto lost 0.46 per cent to $114.87.
On Wall Street earlier, the Dow Jones Industrial Average fell 130.78 points, or 0.43 per cent, to 30,085.67, the S&P 500 lost 0.94 points, or 0.03 per cent, to 3,693.98 and the Nasdaq Composite added 60.41 points, or 0.47 per cent, to 12,802.92.
The Aussie dollar was buying 75.26 US cents at 1200 AEDT, lower from 75.59 US cents at Tuesday’s close.