SYDNEY, AAP – A mid-week rush of money to the ASX is under way as investors bettered the buying spree of a day earlier.

The market climbed 1.25 per cent on Wednesday – its biggest gain in more than two months.

Shares in telecommunications, technology and materials improved by more than two per cent.

The benchmark S&P/ASX200 index closed up 91.5 points, or 1.25 per cent, to 7405.4 points.

The All Ordinaries closed higher by 102 points, or 1.34 per cent, to 7707.2 points.

The Australian dollar was buying 71.30 US cents at 1623 AEDT, higher from 70.78 US cents at Tuesday’s close.