< 1min read
PREVIOUS ARTICLE China deal should be US way, s... NEXT ARTICLE Rate cut required to reduce sp...

The Australian share market has closed flat after the Reserve Bank delivered consecutive cash rate cuts and left the door ajar for further action before Christmas.

The benchmark S&P/ASX200 index lost ground during the afternoon to close just 5.1 points, or 0.08 per cent, higher at 6,653.2 points by 1615 AEST on Tuesday, while the broader All Ordinaries finished up 9.7 points, or 0.14 per cent, at 6,741.1.

The RBA cut the cash rate to a fresh record low of 1.0 per cent but investors were seemingly hungry for more concrete guidance.

The mining and tech sectors were the best performers during the session, adding 1.08 per cent and 1.17 per cent respectively, but the financial sector lost 1.05 per cent – with all four major banks in the red.

The Aussie dollar is buying 69.80 US cents from 69.94 US cents on Monday.