Australian shares edged flat as a bank rebound helped offset wider market weakness. Investors remain focused on upcoming US China summit developments, with expectations kept deliberately low. Traders are looking less for big breakthroughs and more for reassurance—especially around extending the existing trade tariff truce and avoiding sudden surprises.
Australian shares edged lower as the Reserve Bank of Australia raised its cash rate by 25 basis points. The move was largely expected, but investors reacted to the RBA’s softer growth forecast. Rising oil prices kept inflation in focus, pressuring financial and mining stocks, while energy and technology shares managed gains.
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