The S&P/ASX200 closed up Wednesday, gaining 23 points or 0.3% to 7,297, but not before first setting a new 50-day low as Wall Street weighed and Evergrande lingered. Those fears proved fleeting. The energy names led, materials not far off and the real estate sector did some fine afternoon trade. The big four banks did not. And neither did the insurance groups because, y'know, earthquake. IAG, (IAG) down 3%, NHF (NHF) down 1.9% and Suncorp (SUN) down 2.1%.

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