Australian shares rebounded 1.1 percent on Tuesday, recovering from early losses as bargain hunters snapped up resource, energy and financial stocks, helped by hopes of a fresh round of Chinese stimulus measures. The Australian bourse declined 9.5 percent from its 2012 peak on May 1 to last Friday's intraday low, as worries about Greece's debt woes swept through financial markets.
The benchmark S&P/ASX 200 index jumped 46.4 points to 4,114.4, its second day of gains, after sliding to a low of 4,037.9 in morning trade. The index rose 1 percent on Monday. New Zealand's benchmark NZX 50 index ended up 0.5 percent at 3,478.3.
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