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Australian shares hit 2-1/2-month high as lower oil prices fuel broad rally
Australian shares rose to a two-and-a-half-month high on Tuesday as lower oil prices boosted risk appetite, with miners and gold stocks leading broad-based gains. The S&P/ASX 200 jumped 1.1% to 9,129, its highest since August 26. However, the benchmark’s relative strength index hovered near 70, indicating it was approaching overbought territory. Oil prices slipped after US President Donald Trump downplayed the need for military action against Iran, easing inflation concerns that have weighed on markets this year. Australia has also been insulated from AI-led volatility that has jolted most...
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