Australia market falls for second day

The Australian share market closed down for second consecutive session on Tuesday, 19 May 2015, after initial gain propelled by dovish Reserve Bank of Australia minutes which kept the door open for further rate cuts. The selloff triggered on concerns whether the recent weakening in the US dollar, coupled with gains in the Australian dollar to around US$0.80 and recovery of the commodity markets would be sustainable. The benchmark S&P/ASX 200 Index dropped 43.70 points, or 0.77%, to 5615.50, while the broader All Ordinaries Index lost 40.60 points, or 0.72%, to 5619.40. Market turnover was relatively healthy, with 1.89 billion shares changing hands worth of A$5.92 billion.

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