Australia’s stock market experienced a modest rebound on Tuesday, with the S&P/ASX 200 Index advancing by 0.6% to close at 8,343. This rise marked the end of losses from the previous session, driven by the Reserve Bank of Australia’s decision to lower the interest rate by 25 basis points to a two-year low. The index, nearing its highest point since May 16, was notably propelled by strong performances in the technology, real estate, and communication services sectors. Additionally, investor sentiment improved due to the People’s Bank of China’s move to cut interest rates in an effort to bolster its economy, which came in response to mixed economic data from the mainland released on Monday. Leading the list of top performers were Technology One, which surged by 11.3%, followed by Zimplats Holdings at 9.3%, Liontown Resources with a 4.4% increase, South32 climbing 4.1%, and Domino’s Pizza Enterprises rising by 3.9%.
The material has been provided by InstaForex Company – www.instaforex.com
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