The Australian share market has rebounded from yesterday’s sell-off to post its biggest one-day gain since October 2011.
Investors took heart with President-elect Donald Trump’s victory speech, which was conciliatory and called for unity.
At the close, Australia’s benchmark ASX 200 index soared 3.3 per cent to 5,328. The share market closed 1.9 per cent lower yesterday.
“Trump’s acceptance speech was definitely the catalyst for investors to come out of their state of shock,” said Gary Huxtable, client advisor at Atlantic Pacific Securities.
Mr Huxtable added that the speech was well received by markets and “increased the probabilities that Mr Trump the president may take a much different approach than Mr Trump the campaigner”.