ASX stages clawback in red week

The news: The ASX 200 benchmark staged a small comeback on Thursday to regain 0.51% to 6,925.50, after falling as much as 2.5% this week and notching an 11-month low yesterday. The Australian dollar is buying USD0.63, rallying up to 0.8% in the past 24 hours as oil prices and US bond yields eased slightly overnight. Today's rebound followed an overnight relief rally in US stocks and warming confidence was punctuated by Citigroup raising its growth forecast for China.

The numbers: Real estate stocks performed best, gaining more than 2% while IT stocks rose 1.7% following solid gains on the tech-heavy NASDAQ overnight. Energy stocks lagged, losing 0.9% as oil's week-long correction from 14-month highs stabilised.

The context: The Reserve Bank will release its six-monthly review on the stability of Australia's financial system at 11:30am AEDT on Friday. The trial of FTX founder Sam Bankman-Fried continues in New York overnight.