Australia stocks pare losses

The Australian share market closed virtually flat after paring early losses on Thursday, 09 July 2015, as a surprisingly rebound in Chinese equities and a better-than-expected employment report buoyed investors' confidence. Most of the ASX sectors closed higher, with gains were leading by Metals & Mining, Materials and Gold blue-chip stocks. The benchmark S&P/ASX 200 Index rose 1.50 points, or 0.03%, to 5471 points, while the broader All Ordinaries Index nudged down 0.20 point to 5456.30 points. The benchmark index entered a technical correction this morning, down 10.2% from its peak of 5,996.9 in April to a trough of 5,383.7 before recovering in the afternoon.

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