Australian shares rebound from three-month low, remain on track for weekly loss

Australian shares rebounded on Friday from a sharp fall in the previous session, according to Business Recorder. The S&P/ASX 200 rose 0.4% to 8,647.8 points as of 0007 GMT, helped by banks, energy producers and easing bond yields. The benchmark was still on course for a 0.2% weekly decline, which would mark its fifth straight loss.

The rebound followed a 2% drop on Thursday, the index's lowest close since mid-June, after bond yields surged. Local government bond yields eased in step with US Treasuries, with the 10-year rate at 5.36% and the three-year at 4.88%. Financial stocks gained as much as 0.6%, though the sector was on track for a fourth weekly decline.

Energy stocks climbed 1.8%, set for their strongest day since mid-September, after oil prices rose overnight when China stopped fuel exports. Santos and Woodside rose 2.2% and 1.5%, while miners gained 0.7% and technology stocks rose as much as 3.8%. Healthcare and real estate slipped, and New Zealand's S&P/NZX 50 index fell 0.7% to 13,715.99 points.