Yesterday, Australian shares rose more than 1%, led by some banks and miners. The benchmark S&P/ASX200 share index closed up 44 points, or 1.3%, to 3,486.8, and the broader All Ordinaries index rose 37.1 points, or 1.1%, to 3,431.9.
Yesterday Australian shares ended lower as the resources sector was dragged by the dropping commodities prices. The benchmark S&P/ASX200 share index closed down 85.4 points, or 2.3%, at 3694.3, and the broader All Ordinaries index was 84.6 points lower, or 2.3%, at 3643.6. Investors forecast the economic downturn may not change in a short term with more staff layoff and grim corporate results coming.
Yesterday the Australia market closed lower dragged by resource sector although the central bank's aggressive rate cut of 100 basis points lifted some sentiment in late trading. The benchmark S&P/ASX200 index closed down 153 points, or 4.16 per cent, at 3,528.2, while the broader All Ordinaries index was 145.6 points, or 4.02 per cent, lower at 3,473.4. Analysts anticipate a rise today in local market with positive lead from the US and the RBA rate cut.