The local share market has finished higher as traders snapped up bargains following a stretch of heavy losses, although the gains moderated during the afternoon.
After being up as much as 0.73 per cent at lunchtime, the benchmark S&P/ASX200 index finished Wednesday up 26.8 points, or 0.38 per cent, to 7,148.4.
The broader All Ordinaries gained 21.2 points, or 0.29 per cent, to 7,367.6.
Tim Waterer, chief market analyst at KCM Trade, said markets were "understandably lacking some conviction" ahead of the Jackson Hole summit of central bankers in the United States on Friday.
Federal Reserve chairman Jerome Powell probably won't deviate from the hawkish tilt that came out of the Fed's minutes from last week, Mr Waterer predicted, as a dovish turn would lure markets into a false sense of security.
Domestically the focus continued to be on earnings season on Wednesday, with more major names reporting their financial results for the past financial year.
Woolworths rose 3.5 per cent to $37.49 as the supermarket giant reported its full-year profit was up 4.6 per cent to $1.62 billion, in line with expectations.
Rival Coles' shares fell further on Wednesday, closing down 0.4 per cent to an 18-month low of $15.95, following its 7.1 per cent drop on Tuesday on its disappointing earnings results.
Wisetech Global had plunged 20.7 per cent to a three-month low of $69.60 as the cloud logistic platform reported a full-year profit of $212.2 million, in line with estimates, but issued a softer forecast for the current year.
"The bottom line is that the stock will likely face some pressure today, but earnings are still growing, even if that is slightly slower than the market had anticipated," eToro market analyst Josh Gilbert said.
The ASX's biggest tech company, Wisetech is still up 37 per cent on the year.
Domino's Pizza Enterprises soared 11.8 per cent to a six-month high of $53.70 as the pizza chain announced cost-cutting moves and improved sales in the first few weeks of 2023/24.
Iluka Resources fell 11.3 per cent to a one-year low of $8.27 as the mineral sands producer reported a sharply lower first-half profit, slashed its dividend and announced a production shutdown at a major synthetic rutile kiln in Capel, WA.
Elsewhere in the heavyweight mining sector, BHP rose 1.9 per cent to $44.03, Fortescue climbed 2.5 per cent to $21.02 and Rio Tinto added 2.7 per cent to $107.84.
All of the Big Four banks rose, with Westpac up 1.3 per cent to $21.14, ANZ climbing 0.6 per cent to $24.45, NAB adding 0.4 per cent to $28.04 and CBA gaining 0.8 per cent to $99.45.
Also rising on earnings reports were salary packaging and novated leasing services company McMillan Shakespeare, which soared 13.0 per cent to an all-time high of $22.03; medical supply wholesaler EBOS Group, which rose 5.9 per cent to a two-week high of $33.32; international student services firm IDP Education, which had climbed 9.5 per cent to a three-month high of $25.50; and resource project solutions company Worley, which added 0.6 per cent to $17.49.
On the flip side, falling on their earnings results were Santos, which dipped 1.0 per cent to $7.73; Corporate Travel, which fell 6.9 per cent to $18.09; and non-bank lender Peppermoney, which dropped 14.2 per cent to $1.335.
In currency, the Australian dollar was buying 64.25 US cents, from 64.39 US cents at Tuesday's ASX close.
ON THE ASX:
* The S&P/ASX200 index finished Wednesday up 26.8 points, or 0.38 per cent, at 7,148.4.
* The All Ordinaries gained 21.2 points, or 0.29 per cent, to 7,367.6.
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 64.25 US cents, from 64.39 US cents at Tuesday's ASX close
* 93.38 Japanese yen, from 93.89 Japanese yen
* 59.35 Euro cents, from 58.95 Euro cents
* 50.49 British pence, from 50.34 pence
* 108.13 NZ cents, from 108.08 NZ cents.
