ASX 200 jumps as RBA hints rates rises may slow; Tyro soars 27pc on Potentia bid rebuff

ASX enjoys one of its best sessions this year as the RBA hints at smaller rate hikes ahead. Tyro rockets on bid rebuff, iron ore rebounds and banks tip 25bp rate rise in October.

Investors to react to Wall Street’s rebound after days of declines and RBA’s rates stance. Picture: Gaye Gerard

Welcome to the Trading Day blog for Thursday, September 8. The Australian share market posted its best session since June after RBA governor Philip Lowe hinted that slower rate hikes may be ahead.

The S&P/ASX 200 advanced 1.8 per cent or 119.36 points to close at 6848.70, with just 12 stocks in the red.

On Wall Street, the tech-focused Nasdaq 100 was the biggest gainer, up more than 2 per cent, while the S&P 500 closed 1.8 per cent stronger and the Dow Jones index added 1.4 per cent.

US 10-year bond yields fell to 3.27 per cent while US two-year yields were also lower at 3.44 per cent.

Oil prices tumbled to a seven-month low with the Brent crude price 5.2 per cent weaker at $US88 per barrel and the US Nymex crude also 5.7 per lower at $US81.94 per barrel.

Iron ore futures slid 0.4 per cent to $US97.18 per tonne.

The Aussie dollar was near US67.43c at noon.

Originally published as ASX 200 jumps as RBA hints rates rises may slow; Tyro soars 27pc on Potentia bid rebuff