Sentiments remained supported for the Australian stocks in the present day amid constructive in a single day cues and the current restoration in crude oil prices. The market ended greater for a second straight session, hitting close to about its one month excessive as commerce talks between the US and China continued. The S&P/ASX 200 Index added zero.7% to shut at 5722.four, whereas the broader All Ordinaries additionally rose zero.7%, to 5783.three.
In the preliminary trades, there was some cautiousness out there on promoting strain in main banking stocks. However, constructive cues from different Asian markets supported the emotions. Asian markets principally rose on optimism concerning the commerce talks between China and the US. Overnight cues from the Wall Street offered constructive leads as properly. The US stocks prolonged Friday’s surge.
On the financial entrance, Australia’s commerce surplus narrowed in November on decrease coal exports. The $1.9 billion commerce surplus marked the nation’s eleventh straight commerce surplus, with exports up 1% to $38.four billion and imports rising 2% to $36.5 billion, Australian Bureau of Statistics seasonally-adjusted knowledge confirmed on Tuesday.
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