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Aussie stocks rocket up 2 per cent as dollar jumps to 61.37 US cents

Published: (Updated: ) in Australian News by .

The rollercoaster for investors continues after the ASX 200 opened heavily in the green.

The Australian share market has gained more than two per cent at the open as coronavirus-fuelled volatility continues.

The S&P/ASX200 benchmark index was up 101.9 points, or 1.99 per cent, at 5,212.5 at 1015 AEDT on Wednesday, mirroring a similar surge at Tuesday's open.

The bourse ended up sagging throughout the previous session to close 2.02 per cent lower.

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The All Ordinaries index was also up on Wednesday, rising 103.3 points, or 2.03 per cent, to 5,180.1 after the first 15 minutes of trading.

All sectors were well in the black, with energy stocks leading the way.

The financials, materials and healthcare companies were also strong out of the gates.

The early rise came despite Wall Street suffering more losses overnight as the coronavirus pandemic continued to stoke economic fears.

The Dow Jones ended its worst quarterly performance since 1987 with a 410.32 point fall, or 1.84 per cent drop, to 21,917.16.

It was also the S&P 500's weakest quarter since 2008, even factoring in last week's surge on fresh government stimulus.

The Australian dollar was buying 61.37 US cents at 1015 AEDT, down from 61.90 US cents as the market closed on Tuesday.

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Source: 9News

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