S&P/ASX 200 Australian stock markets closed higher today. This was driven by strong buying in mining stocks. As investors keep an eye on the Reserve Bank of Australia’s monetary policy meeting tomorrow.
The S&P/ASX 200 index closed at 6,852.20, up 23.50, or +0.34%, and the All Ordinaries closed at 7,074.50, up 18.20, or +0.26%.
The Reserve Bank of Australia (RBA) is scheduled to hold a monetary policy meeting tomorrow at 11:30 a.m.
In addition to buying power in the mining sector Australian stock markets were also boosted by the S&P report. global, which indicates The Australian services sector purchasing managers’ index (PMI) was at 50.2 in August, although down from 50.9 in July, the index above 50 indicates the Australian service sector is still expanding. one