The Australian share market has rallied for a second time this week on the back of a strong lead from Wall Street, as several leading US corporations reported better-than-expected earnings.

The benchmark S&P/ASX200 index on Wednesday gained 109.6 points to finish at a three-week closing high of 6,759.2, a gain of 1.65 per cent.

The broader All Ordinaries climbed 122.2 points, or 1.78 per cent, to 6,975.2.

The Aussie dollar meanwhile had risen against its US counterpart, buying 69.11 US cents, from 68.60 US cents at Tuesday’s close.

It didn’t react as Reserve Bank of Australia governor Philip Lowe gave a hawkish speech on Wednesday morning.

Derek Rose
(Australian Associated Press)