Australian markets look set to recover much of the value lost in yesterday’s drubbing, with the S&P/ASX 200 picking up 0.9% to 6635.3 by 12.20pm.
The rebound follows a strong performance on US markets overnight after a key finance house announced a $1 billion dollar investment from China, in turn feeding through to a strong performance by financial institutions in Australia.
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At the same time the Australian dollar is trading at 88.89c, down slightly on yesterday’s 89.01c close.