The ASX200 closed down more than 0.6% to 8481 points after the Reserve Bank of Australia cut rates by 25 basis points to 4.1% - the first cut in more than 4 years. The big 4 bank stocks fell as they promised to pass on the rate cut in full.
Asian stock markets are trading mostly higher on Tuesday, following the broadly positive cues from European markets and lack of cues from Wall Street overnight, as markets react positively to easing geopolitical tensions after US President Donald Trump's decision to open talks with Russia on ending the war with Ukraine without a European presence.
Asian stock markets are trading mixed on Tuesday, following the positive cues from European markets and lack of cues from Wall Street overnight, as markets reacted positively to US President Donald Trump's decision not to impose China-specific tariffs on his first day in office.