The Australian share market is ending the week on a high despite global markets still struggling with looming rate hikes, war and inflation.
The ASX 200 opened higher and, by 11am AEST, it was up 1.4 per cent, to 7,039.
And the All Ords was up a similar amount.
That positive mood continued, with the ASX 200 eventually finished up 1.9per cent, at 7,075.
The All Ords was up even more, at 2 per cent, helping it regain the heavy losses it had during the week.
All the major sectors were in the green.
The top-performing stocks were Life360 (+13.4 per cent) and Polynovo (+12.7 per cent).
However, over the past five days, the benchmark has still lost 1.81 per cent.
ASX rises, despite mixed feelings on Wall Street
The Dow Jones closed 0.3 per cent down, while the S&P 500 was 0.1 per cent lower.
However, the Dow Jones had recovered some losses during late trade.
The Nasdaq was marginally up, by 0.1 per cent. That's after the tech sector has suffered heavy losses off the back of higher-than-expected inflation data out of the US.
Crypto is still struggling, but Bitcoin has recovered a slice of what it lost yesterday.
By 4:30pm, it was back above the benchmark $US30,000.
This is as investors say that people are putting their cash back into the safe haven of the American currency.
The Australian currency was also down.
As the ANZ noted this morning: "The AUD is firmly below 69 US cents as global equities resumed their decline overnight. Pressure remains to the downside for the AUD."
Meanwhile, there's speculation that Europe will soon increase rates.
Inflation is also a problem in countries there, with the shortage of gas especially putting pressure on economies.
"In Europe, we have recently revised up our inflation forecasts and anticipate the [European Central Bank] will hike rates in July," ANZ noted.
"The 9 June ECB meeting promises to be hawkish, as will be the [Federal Open Market Committee] meeting on 14-15 June."
