ASX rebounds as RBA holds rates steady
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The news: The Australian sharemarket advanced on Tuesday as investors shook of uncertainty around upcoming US tariff announcements, which saw shares slide 1.7% on Monday.
The rally accelerated in mid-afternoon trading as the Reserve Bank of Australia kept rates on hold at its second meeting of 2025, a move widely expected by economists.
The ASX 200 index closed 1.04% higher at 7,925.2, with all 11 sectors finishing in the green.
Big ASX 200 movers:
- Deep Yellow (-7.6%) — Led a selloff among uranium miners as new US tariffs threaten to slow purchases of the nuclear fuel and delay new contracts. Paladin Energy (-5.7%) and Boss Energy (-4%) both fell.
- Real estate (2.1%) — Ended as the best performing sector, with its three largest stocks Goodman Group (2.7%), Scentre Group (1.8%) and Stockland (2.3%) all rallying.
Other news:
- HMC Capital (-3.5%) — Expects to receive a $150 million distribution from its HMCCP Fund I and has outlined plans to launch a closed-end private equity fund.
- AVJennings (8.3%) — Agreed to a takeover bid from US real estate investment manager Proprium Capital Partners, valuing the company at $369 million.
- Lendlease (1.4%) — Sold a 20% interest in London office asset 21 Moorfields to Japan's Sotetsu Urban Creates and Yasuda Real Estate for $131 million.
- Cettire (-3.6%) — Announced the retirement of its chair Bob East, who will replaced by current non-executive director Steven Fisher. Accent Group CEO Daniel Agostinelli has also been appointed to the board.
The Australian dollar is buying 62.59 US cents.
