The Australian share market finished higher on Tuesday as investors shrugged off global trade tensions and volatility on Wall Street.
The benchmark S&P/ASX200 gained 166.7 points or 2.3% to 7,510.0, with gains seen across all 11 sectors.
The rally comes after United States President Donald Trump threatened an additional 50% tariff on Chinese imports, a move met with a firm response from Beijing, which vowed to “resolutely take countermeasures”.
The technology sector led the charge, gaining 4.6%, buoyed by strong performances from WiseTech Global, Xero, and Appen, which gained 5%, 4.3%, and 9%, respectively.
The energy sector climbed 4.1%, supported by stabilising oil prices following a recent plunge to four-year lows.
Santos gained 5.4%, Beach Energy lifted 3.4%, and Woodside Energy added 3.3%.
Consumer discretionary stocks also posted notable gains, advancing 3.2%, with Tabcorp up 6.6%, Domino’s Pizza adding 7%, Aristocrat Leisure up 3.8%, and Wesfarmers gaining 3%.
Among standout performers, buy-now-pay-later provider Zip surged 5.5% after announcing an on-market share buyback of up to $50 million.
Mexican fast-food chain Guzman y Gomez rose 3.7% after it reported robust third-quarter sales and said it was on track to pay its first-ever dividend.
In the bond market, yields eased, with 10-year rates down 1.7% to 4.215% and 2-year yields falling 2.8% to 3.337%.
