By Oliver Gray
Investing.com - The S&P/ASX 200 finished Tuesday’s session 3.8% higher at 6,699.3 as risk appetites were boosted after Reserve Bank of Australia policymakers raised interest rates less than expected.
Among stocks, Information Technology led the gains, surging 4.9% as Block Inc (ASX:SQ2) lifted 4.7%, Appen Ltd (ASX:APX), Block Inc (ASX:SQ2) added 3.3%, Megaport Ltd (ASX:MP1) gained 6.1% and Novonix Ltd (ASX:NVX) popped 9.2%.
Materials added 4.5%, with Rio Tinto Ltd (ASX:RIO) up 3.1%, BHP Group Ltd (ASX:BHP) lifting 3.8%, Fortescue Metals Group Ltd (ASX:FMG) gaining 1.7% and Champion Iron Ltd (ASX:CIA) up 7.5%.
Energy lifted 4.5%, as Woodside Energy Ltd (ASX:WDS) gained 4.9%, Santos Ltd (ASX:STO) lifted 4.2%, Beach Energy Ltd (ASX:BPT) added 4% and Viva Energy Group Ltd (ASX:VEA) gained 0.8%.
Real estate gained 4.5%, as Mirvac Group (ASX:MGR) added 5.4%, Charter Hall Group (ASX:CHC) lifted 6.9%, Goodman Group (ASX:GMG) added 5.7% and Stockland Corporation Ltd (ASX:SGP) lifted 4.3%.
Financials added 4.2% as Macquarie Group Ltd (ASX:MQG) gained 4.5%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) added 5%, Commonwealth Bank Of Australia (ASX:CBA) lifted 4.6%, National Australia Bank Ltd (ASX:NAB) lifted 4% and Westpac Banking Corp (ASX:WBC) gained 4%.
On the data front, building approvals for October surged 28.1%, greater than an increase of 5% expected, while home loans fell 2.7% from September.
On the bond markets, Australia 10-Year yields were at 3.733% while United States 10-Year yields were at 3.631%.
In New Zealand, the NZX 50 lost 1.2% to 11,090.