The Australian share market has rebounded from Thursday’s plunge, with the financial sector leading the charge after the easing of some regulations for American banks.

The S&P/ASX200 benchmark index closed Friday up 86.4 points, or 1.49 per cent, at 5,904.1 points, while the All Ordinaries index was up 83.8 points, or 1.41 per cent higher, at 6,011.8.

The Australian dollar was buying 68.83 US cents, up from 68.65 US cents at the close of trade on Thursday.