The benchmark S&P/ASX 200 rose 0.3 per cent, or 23.8 points to 7048.6 at the closing bell on Friday but is still more than 2 per cent this quarter.
While the Australian sharemarket climbed on Friday, it still reported the biggest three-month drop since the second quarter of 2022 as investors recalibrate for a higher for longer interest rate environment.
A rebound in US tech stocks overnight and an easing in US bond yields and the oil price buoyed the ASX on Friday. The Australian dollar also rebounded more than 1 per cent to retake US64¢ as the Bloomberg dollar spot index slid 0.5 per cent. Singapore futures rose 1.9 per cent to $US120.30 a tonne on the October contract in late afternoon trading.In company news, Liontown Resources dropped 1.3 per cent to $2.94 after the mining company lifted the estimate on its Kathleen Valley lithium project capital cost to $951 million. The latest estimate is a 6 per cent increase from the $895 million estimate announced in January.
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