The S&P/ASX 200 rose 0.8 per cent to 7,055.40 in its best day since April 8. It had marked its worst session in nearly two months in the previous session.
U.S. stocks bounced on Wednesday after a two-day decline, with the tech-heavy Nasdaq adding 1.2 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent on Thursday, following a 0.9 per cent decline the previous day.
“The ASX rebounded across the board, led by a strong reversal in the U.S. equity markets last night,” said Brad Smoling, managing director, Smoling Stockbroking.
“Gold prices rallied surprisingly too last night… and Australian gold miners led the charge on ASX today.”
Gold stocks surged 2.7 per cent, snapping their two-day losing streak, with sector heavyweight Newcrest Mining gaining 2.3 per cent, and Chalice Mining adding 8.1 per cent.
Healthcare stocks, which fell for two straight sessions earlier this week, rose 1.7 per cent. Biotech giant gained 1.8 per cent.
AMP underperformed the bourse and was the biggest loser among financial stocks, after it reported A$1.5 billion ($1.16 billion) in net outflows at its Australian wealth management business for the first quarter.
Energy stocks shed 0.6 per cent. Oil and gas producer Beach Energy gave up nearly 2 per cent and was among the biggest decliners on the sub-index.
AGL Energy fell 2.9 per cent to an all-time low after its chief executive officer resigned in less than a month after the power producer announced plans to split into two.
New Zealand’s benchmark S&P/NZX 50 rose 0.3 per cent to finish at 12,577.48. Medical device maker Fisher & Paykel Healthcare was the biggest gainer, up 4.2 per cent.
