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Australian shares stabilise after wild two-day sell-off

Australian stocks are back in positive territory after two days of turbulent trading. (Bianca De Marchi/AAP PHOTOS)

By Derek Rose in Sydney

Australian investors hope the worst is over after the share market finished higher following a brutal sell-off that sent it to a 10-week low.

The benchmark S&P/ASX200 index on Tuesday finished up 31 points, or 0.41 per cent, to 7680.6, while the broader All Ordinaries was up 32 points, or 0.41 per cent, 7891.4.

The ASX200 lost 5.81 per cent over Friday and Monday, its worst two-day sell-off since the start of the COVID-19 pandemic.

In currency, the Australian dollar had rebounded, buying 65.21 US cents, from 64.08 US cents at Monday’s ASX close.

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