The Australian share market has suffered its worst session in seven weeks, slumping badly after a blowout US jobs report pushed back expectations for when interest rate cuts would begin.
Companies that don't comply with a ban on gamblers using credit cards for online betting face hefty fines, but the new rules don't apply to online lotteries.
The ASX200 finished up 0.7 per cent, with Commonwealth Bank shares trading above $125 for the first time, following "Goldilocks" economic data from the US.
The ASX200 finished 0.4 per cent higher as official statistics revealed Australia's gross domestic product grew just 0.1 per cent in the first quarter.
The local share market has suffered its biggest drop in more than a month after official statistics showed inflation has picked up, raising doubts about whether domestic rate cuts will occur at all this year.