The Aussie share market has moved in and out of positive territory after spending much of the day in the red and then finishing flat.
On Tuesday, more was heard from the Reserve Bank with minutes from its latest meeting showing the board only briefly considered leaving rates on hold before unanimously voting to hike amid concerns inflation could remain higher for longer.
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By looking at the market in more detail, just over half of the sectors were higher with utilities leading the gains.
Financials — the market’s largest sector — were another bright spot, but technology stocks remained firmly in the red following a global sell-off in tech stocks while lithium producers also struggled.
Lithium prices have fallen to their lowest levels in a year after an agreement between China and the European Union on hybrid vehicle exports weighed on demand outlook.
Telstra was lower for a third straight session. The company held its AGM today.
The Aussie dollar is buying around 69.6 US cents.
This article is published as part of a paid partnership with the CommSec.
Facts and dates are correct at the time of publication. This is general information only and does not constitute personal financial advice. Consider seeking advice from a qualified financial professional before making financial decisions.
