(RTTNews) – Asian stock markets are mostly higher on Tuesday, extending gains from the previous session amid indications that coronavirus pandemic may be levelling off in New York and receding in European coronavirus hotspots such as Italy and Spain.
The Australian market has pared early gains and is now mixed. Investors now look ahead to the Reserve Bank of Australia’s decision on interest rates after its monetary policy meeting later today.
The RBA is widely expected to keep its benchmark lending rate steady at the record low of 0.25 percent. The central bank will also consider whether its bond-buying program requires any adjustments.
The benchmark S&P/ASX 200 Index is down 1.30 points or 0.02 percent to 5,285.50, after rising to a high of 5,423.10 earlier. The broader All Ordinaries Index is advancing 8.10 points or 0.15 percent to 5,331.70. Australian stocks closed sharply higher on Monday.
Among gold miners, Newcrest Mining is higher by more than 5 percent and Evolution Mining is gaining more than 4 percent as safe-haven gold prices rose almost 2.9 percent overnight.
The big four banks – ANZ Banking, Commonwealth Bank, Westpac and National Australia Bank – are higher in a range of 3.3 percent to 3.5 percent.
QBE Insurance has appointed AXA XL’s Jason Harris as its new chief executive after Richard Pryce decided to retire. Harris is chief executive of global property and casualty at AXA XL. Shares of QBE Insurance are higher by more than 3…