ASX rises 0.8pc as GDP beats expectations Share The S&P/ASX 200 Index climbed 55.7 points, or 0.8 per cent, to 6818, its highest level in four sessions.
The tech-heavy Nasdaq Composite was hit hardest, falling 1.7 per cent while the S&P 500 declined 0.8 per cent. The Dow Jones Industrial Average lost 0.5 per cent. Despite the poor lead from Wall Street, the local sharemarket shot up at the open and remained firmly higher through the session. Advertisement Australia’s fourth-quarter gross domestic product beat expectations, expanding 3.1 per cent from the previous three months, buoyed by strength from consumer spending despite a drop in income.