ASX recovers, but Wall Street sell-off intensifies as rate hike fever persists

Australian shares have clawed back some of yesterday's heavy losses despite another slump in global markets over the possibility of more aggressive US and European interest rate hikes ahead.

The ASX 200 index was up 0.5 per cent to 7,002 points, by 12:15pm AEST.

Shares of energy and resources companies like Paladin Energy (+6.2 per cent), Chalice Mining (+6 per cent), Mineral Resources (+2.7 per cent) and New Hope Corporation (+2.3 per cent) posted solid gains.

Read More: https://www.abc.net.au/news/2022-08-30/asx-australian-share-market-wall-street-rate-hike-sell-off/101385008