ASX 200 climbs on real estate, health stocks; Blackmores rebounds

ASX rebounds led by real estate and health. Lake Resources crashes as it calms investors, NBN taps bond market, Growthpoint jumps on forecast and PayGroup's stunning surge.

Wall Street turned lower just as the market closed as recession concerns continue to weigh on the market. Picture: Gaye Gerard / NCA Newswire

Welcome to the Trading Day blog for Thursday, June 23. The Australian share market trades rebounded higher on gains led by real estate and health care.

The S&P/ASX 200 index ended 0.3 per cent higher to 6528.40 with all sector bar materials and energy in the green.

On Wall Street, stocks initially rallied after Federal Reserve Chairman Jerome Powell spoke at a two-day congressional hearing.

While the Chairman conceded that a recession was possible from the interest rate hikes needed to contain inflation, he appeared not to take an even more hawkish stance to bring inflation back into line.

Markets turned lower at the close, with the Dow Jones down 0.2 per cent, the S&P 500 index off 0.1 per cent and the tech-heavy Nasdaq 0.2 per cent lower.

Among commodities, Nymex crude oil dropped 3 per cent to $US106.19 a barrel, iron ore futures fell by 1.5 per cent to $US127.02 a tonne and the Australian dollar was trading around US69.30c at the US close.