Christmas bonus as Aussie shares soar to six-week high
The Australian share market rose to six-week highs, boosted by Santa recovery hopes and less hawkish-than-expected Reserve Bank minutes, supporting interest rate-sensitive sectors.
The S&P/ASX200 rose 100.7 points, or 1.16 percent, to 8,800.6 points on Tuesday, while the All Ordinaries index rose 99.4 points, or 1.1 percent, to 9,100.1 points.
All 11 local sectors, led by real estate stocks, financial and energy stocks, traded higher and raw materials rose only 0.8 percent, while the gold, silver and segment traded at record highs.
The Australian dollar is buying 66.68 US cents, down from 66.26 US cents at 5pm on Monday; Narrowing expectations for a US interest rate cut causes the dollar to remain under pressure against major currencies.
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