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US stocks ended the day higher overnight after a sharp slump in the previous trading session. The rebound was helped by better-than-expected earnings from retailers such as Dow component Home Depot.

Yesterday Australian shares plunged sharply, dragged by financial stocks as investors feared the UK banks might need to raise more funds. The unfavorable corporate earnings results also weighed down the market. The benchmark S&P/ASX200 was down 1.5%, or 52.6 points, to 3464.3, while the broader All Ordinaries index lost 1.4%, or 49.1 points, to 3412.2.