Australia's sharemarket has shrugged off a morning slump to finish higher at the close, buoyed by strength in large cap miners, banks and energy stocks.
The S&P/ASX200 gained 70.7 points on Wednesday, up 0.8 per cent, to 8,927.8, as the broader All Ordinaries rose 55.3 points, or 0.6 per cent, to 9,024.6.
Basic materials and energy stocks each gained more than 3 per cent, while the heavyweight financials sector rose 1 per cent, with buying squarely focused on major companies.
The Aussie dollar is buying 70.24 US cents, up from 70.07 US cents on Tuesday at 5pm, the local currency supported by the interest rate hike and a positive global economic outlook.
