Australia shares higher despite mining sector selloff

Building cladding company James Hardie rose by nearly 14 per cent on a strong first half. (Steven Saphore/AAP PHOTOS)

The local share market has finished modestly higher amid a global pullback in bond yields.

The benchmark S&P/ASX200 index on Wednesday finished 18.3 points higher, or 0.26 per cent, at 6,995.4, while the broader All Ordinaries gained 21.8 points, or 0.3 per cent, to 7,198.4.