Aussie shares edge lower as RBA offers no surprises
All 11 local sectors traded lower by the close on Tuesday, led by slumps in IT and energy stocks. -AAP Image
Australia's share market has crept lower after the Reserve Bank offered nothing to allay investor fears its interest rate cutting cycle could be over.
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The S&P/ASX200 fell 34.1 points on Tuesday, down 0.40 per cent to 8,590.3 as the broader All Ordinaries lost 35.6 points, or 0.40 per cent, to 8,879.4.
The leading benchmarks eased after the RBA left the cash interest rate at 3.6 per cent for a fourth straight meeting, but the downside was limited as the central bank's cautious, data-dependent outlook offered no surprises to investors.
All 11 local sectors traded lower by the close, led by slumps in IT and energy stocks following a weak lead from Wall Street's tech-heavy Nasdaq index and after production resumed at an Iraqi oil field.
The Australian dollar is hovering near its recent 12-week highs, buying 65.46 US cents, on par with Monday at 5pm.
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