By Oliver Gray
Investing.com - The S&P/ASX 200 finished 25.70 points or 0.38% to 6,826.50 lower during Tuesday’s trading session, reversing earlier gains as RBA policymakers increased the official cash rate by 50 basis points to 2.35%, in line with expectations.
Among stocks, Utilities led declines as Mercury NZ Ltd (ASX:MCY) lost 3.5%, Origin Energy Ltd (ASX:ORG) fell 3.3% and AGL Energy Ltd (ASX:AGL) dipped 2.1%.
Materials fell 0.7% with Rio Tinto Ltd (ASX:RIO) down 1.1% and BHP Group Ltd (ASX:BHP) falling 1.7%, while several lithium company popped following broker upgrades. Core Lithium Ltd (ASX:CXO) added 9.9%, Lake Resources NL (ASX:LKE) added 9.6% and Pilbara Minerals Ltd (ASX:PLS) lifted 7%.
Information Technology lifted 0.7% as Appen Ltd (ASX:APX) lifted 2%, Megaport Ltd (ASX:MP1) gained 2.3%, Altium Ltd (ASX:ALU) added 1.4% and Computershare Ltd. (ASX:CPU) gained 0.9%.
On the bond markets, Australia 10-Year rates were at 3.669% while United States 10-Year yields were at 3.25%.
In New Zealand, the NZX 50 was down 0.2% to 11,599.3.