SYDNEY, AAP – Shares on the ASX had their biggest rise since August 2 as the troubled property giant Evergrande took its first steps towards paying huge debts.
Technology and energy shares were best in a broad-based rally on the Australian market on Thursday, which followed the US lead.
The benchmark S&P/ASX200 index closed higher by 73.3 points, or 1.0 per cent, to 7370.2.
The All Ordinaries closed up by 87.5 points, or 1.15 per cent, to 7681.3.
Evergrande pledged to pay bond interest, easing fears of widespread damages if the behemoth cannot pay its debts.
The Australian dollar was buying 72.43 US cents at 1621 AEST, lower than 72.54 US cents at Wednesday’s close.