ASX 200 up 0.3pc; Wall St, Nikkei claws back some losses; gold price dips

Local shares extend gains for a second day, with nearly all 11 sectors in the black. Property and energy stocks found strong support following a rebound in the US. Nikkei up 4.3 per cent on Bank of Japan news it won't raise rates while markets unstable.

The ASX is recovering for a second day in a row after strong rebounds in Japanese and US markets. Picture: Kazuhiro Nogi/AFP

Welcome to the Trading Day blog for Wednesday, August 7. The ASX 200 has rebounded from early falls to a two-day-high, closing 0.3 per cent higher at 7699.8, with gains across the board. Property and energy stocks led the gains.

The Aussie dollar is trading around US65.42c.