Thanks afternoon crew. End-of-day summary: The share market...

Thanks afternoon crew.

End-of-day summary:

The share market stripped back its initial gains as a sell-off in iron ore continued in the wake of yesterday's China stimulus disappointment.

The ASX 200 closed 10.5 points or 0.13% ahead after earlier advancing almost 50 points.

The rally lost momentum as China's failure to outline fresh support for its faltering economy continued to send reverberations through financial markets. Benchmark iron ore prices slid 2.9% this afternoon on the Dalian Commodity Exchange. Chinese shares sank 5.3% on the mainland.

Tech stocks were boosted by a 1.45% rebound on the Nasdaq Composite overnight. Block, Audinate and Life360 were among the day's best. Also strong were Zip Co, Kelsian and Pro Medicus.