ASX cautiously returns to action after Monday’s bloodbath

Australian investors cautiously returned to the game after Monday’s slump, which lifted the local benchmark index following an overnight fall on Wall Street that, while sharp, was not as deep as feared.

The ASX200 opened 0.7 per cent higher but trimmed its gains to just 0.4 per cent in the first 30 minutes of trading, gaining 30.9 points to reach 7680.5 points just after 9am.

Financials, consumer discretionary, real estate, industrials and mining stocks enjoyed strong buyer interest, while energy, healthcare, telecommunications and consumer staples stocks remained lower.

Perth-based Woodside was among the first casualties, falling almost 5% as investors fretted over two recent multi-billion dollar takeovers in the US.