S&P/ASX 200 (INDEXASX:XJO) recovered from a three-month low and a four-day selloff to rise 100 points or 1.73% to 5884 by around 1.30 pm.
Tech stocks in the US provided a solid platform for the index to rise with the largest 40 companies by market cap on the ASX all rising.
On Tuesday, the major US indices snapped multi-day losing streaks, all closing in the green.
The Dow Jones Industrial Average surged 140 points and the S&P 500 climbed 1.1%.
The tech-heavy Nasdaq Composite was the relative outperformer, rising 1.7% as Amazon.com, Inc (NASDAQ:AMZN) surged 5.7%.
Stock gains were capped by concerns about an uptick in COVID-19 cases in the UK coupled with a bleaker outlook for a second stimulus bill from the US Congress.
U.S. COVID-19 deaths topped 200,000 on Tuesday, according to data compiled by Johns Hopkins University.
Todays top gainers on the ASX include Nelson Resources Ltd (ASX:NES) (+13.85%), Engage:BDR Ltd (ASX:EN1) (+20.00%), Greenland Minerals Ltd (ASX:GGG) (+23.53%), Andromeda Metals Ltd (ASX:AND) (+15.00%), Vrx Silica Ltd (ASX:VRX) (+45.45%), Anson Resources Ltd (ASX:ASN) (+26.32%), FYI Resources Ltd (ASX:FYI) (+18.75%) and Brookside Energy Ltd (ASX:BRK) (+20.00%).
Proactive news headlines:
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Greenland Minerals higher on Kvanefjeld Environmental Impact Assessment being accepted for public consultation
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