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AAP
AAP
Business
Jacob Shteyman

ASX skyrockets as economy shows sign of weakness

The ASX climbed 1.65 per cent on Wednesday to finish near a three-month high. (Joel Carrett/AAP PHOTOS)

The Australian share market has enjoyed its best day in more than a year as investors hope sluggish economic growth will discourage the Reserve Bank from further rate rises.

The benchmark S&P/ASX200 index on Wednesday climbed 116.8 points, or 1.65 per cent, to 7,178.4 - a near-three month high.

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