Global Finance: ASX has closed the session higher

The Australian sharemarket has closed the session higher for just the second time this month as positive reporting season results lifted the index. US stocks were flat on Wednesday after China retaliated to the latest tariffs, escalating trade tensions and muting strong.

A screen displays stock market prices at the Australian Stock Exchange in Sydney, Wednesday, July 23, 2014. (AAP Image/Joel Carrett) NO ARCHIVING Source: AAP