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Australia Market rises to two-week highs

The Australian share market finished session modest higher on Tuesday, 31 August 2021, as an overnight record close for the US market and the Australia’s record high current account surplus in the June quarter lifted risk appetite.

At closing bell, the benchmark S&P/ASX200 advanced 30.36 points, or 0.4%, to 7,534.90. The broader All Ordinaries rose 34.70 points, or 0.45%, to 7,823.28.

Total 8 of 11 sectors ended higher along with the S&P/ASX 200 Index, with Tech and healthcare stocks paced the gainers, while energy stocks succumbed to selling pressure on tracking a downturn in oil prices.

Shares of technology sector fuelled rally on tracking gains in US peers overnight, with Afterpay, Appen, Wisetech Global, NEXTDC and Xero being notable gainers.

Shares of iron ore miners were weak, with BHP, Rio Tinto and…

Read more at www.business-standard.com


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