Australia Market surges after RBA rate cut decision

Australian share market ended sharply higher on Tuesday, 03 May 2016, after the Reserve Bank of Australia Board decided to lower the cash rate by 25 basis points to 1.75 per cent, effective 4 May 2016. Most of ASX industry group advanced with shares in the property trusts, financials, and realty sectors being major gainers. At close of trade, the benchmark S&P/ASX 200 advanced 110.80 points, or 2.11%, to 5353.80. The broader All Ordinaries rose 103 points, or 1.94%, to 5415.

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