The Australian share market bounced back on Tuesday, with the S&P/ASX 200 advancing 0.3% to 8011.9, driven by strong performances in the banking and technology sectors.
Commonwealth Bank of Australia (CBA) and Macquarie Group led the charge, both reaching new all-time highs. CBA briefly touched $145.24 before closing at $143.77, up 0.6%, while Macquarie rose 1.6% to $227.36 after hitting an intraday high of $228.5.
Other major banks also performed well, with Westpac and National Australia Bank hitting seven-year highs.
Westpac closed up 1.4% at $32.31, and NAB gained 0.1% to $38.95. ANZ narrowly missed a similar milestone, slipping 0.4% to $31.40.
The banking sector's strong performance comes amid news that the Australian Prudential Regulation Authority plans to phase out bank hybrid securities, potentially benefiting smaller banks more than larger institutions.
Energy stocks also pushed higher despite falling oil prices, with Woodside rising 0.8% to $23.99 and Santos gaining 0.6% to $6.92.
However, materials companies faced headwinds late in the session following data that showed weakening Chinese iron ore imports.
BHP finished down 0.3% at $38.66, while Fortescue dropped 2% to $15.89.
On the bond markets, 10-year rates were at 3.922% and 2-year rates were at 3.602%.