Australia Stock Market Today: Why the ASX 200 Jumped 1.3% After the RBA Rate Hike
Australian shares jumped 1.3% to 8,793.60, their highest close since early April, led by gains in banks and miners. Westpac rose 3.5%, Fortescue and BHP each gained 3.1%. The rally followed a Reserve Bank rate hike to 4.35%. The Australian dollar climbed 0.7% to 72.34 U.S. cents.