Investors on the ASX removed some risk from their portfolios as the outcomes of the US Federal Reserve's policy meeting on Thursday loomed large over financial markets.
Australia's share market posted its strongest performance in more than a week, as the heavyweight financial sector was helped by easing bond yields and a reinforced message on low rates.
A broad-based rally has helped the Australian share market post its best week in five, while central banks will have more opportunity to steer economic recovery in their favour next week.
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Investors on the ASX have resisted a mostly upbeat mood on Wall Street after bond yields eased, and may be waiting for signals from the US Federal Reserve's meeting next week.
Plunging iron ore prices have pulled miners and the ASX lower on a day in which investors rediscovered growth stocks such as technology, going against the recent reflation trade.
Australia's share market has produced gains despite some turbulent offshore influences, while Reserve Bank governor Philip Lowe may seize a chance to move the dollar lower on Wednesday.
Scott Morrison says he wants Anzac Day services to return to normal this year after the pandemic meant traditional services and marches had to be cancelled on the national holiday last year.
Inflation fears in the US forced the Australian share market to close lower, but not before investors gained some hope from China's decision to reinstate its economic growth target.
Big companies trading ex-dividend and a weak offshore lead dragged the Australian share market lower, while a fund manager saw risk in where the market may be headed.
Australia's share market has closed higher, as early optimism was reinforced by fourth-quarter economic data which showed a better than expected recovery from the coronavirus pandemic.
Australia's share market closed lower while investors were reassured low borrowing costs will remain for some time yet, after the Reserve Bank left the cash rate and other settings unchanged.
