By Oliver Gray
Investing.com - The S&P/ASX 200 added 68.40 points or 0.93% to 7,392.70 during Wednesday’s trade, erasing declines of 0.6% in the previous session amid re-energized risk appetite as a lower Aussie and easing long term bond yields boosted stocks following the RBA’s rate decision yesterday.
Among stocks, AMP Ltd (ASX:AMP) surged 9.3% after announcing the sale of its stake in Resolution Life. Major miners closed higher despite falling iron ore prices overnight. Rio Tinto Ltd (ASX:RIO) added 1.17% and Fortescue Metals Group Ltd (ASX:FMG) lifted 3.01%. BHP Billiton Ltd (ASX:BHP) gained 1.01% after releasing an update on its pursuit of Noront Resources. Meantime, Commonwealth Bank Of Australia (ASX:CBA) also lifted 1.12% after announcing that it will allow its customers to buy, sell and hold 10 crypto assets through its app. Westpac Banking Corp (ASX:WBC) added 0.39% and National Australia Bank Ltd (ASX:NAB) gained 1.28%.
On the bond markets, Australia 10-Year yields eased from recent 32-month highs to 1.872% while United States 10-Year rates were at 1.547%.
In New Zealand, the NZX 50 closed flat at 12994.