Banks bolster bourse as Australian shares rebound

The bounce came after a spike in bond yields caused the top-200 to slump 1.8 per cent on Wednesday in its worst session since April 9, in the days after US tariff announcements sent global markets into a tailspin.

Nine of 11 local sectors traded higher on Thursday, led by strong rebounds in interest rate-sensitive sectors like financials, IT stocks, real estate and consumer-facing segments.

The Australian dollar is buying 65.25 US cents, up slightly from Wednesday afternoon's 65.11 US cents, but ultimately trading at the higher end of its range with the greenback held since late May.