Australia stock market finished lower for second straight session on Tuesday, 07 February 2023, after the Reserve Bank's ninth consecutive rate rise, with shares in realty, retailers, and consumer goods players being notable losers. At closing bell, the benchmark S&P/ASX200 index was down 34.84 points, or 0.46%, to 7,504.14. The broader All Ordinaries index declined 32.87 points, or 0.42%, to 7,713.06. Total 9 of 11 sectors ended lower along with the S&P/ASX 200 Index. A-REIT was worst performing sector, erasing 1.62%, followed by healthcare (down1.41%), consumer discretionary (down 1.27%), and consumer staples (down 1.17%) issues. Energy was the best performing sector, gaining 0.48%. The top performing stocks in S&P/ASX200 index were NEW HOPE CORP and LINK ADMISTRATION HOLDINGS, up 3.7% and 3.43% respectively. The bottom performing stocks in S&P/ASX200 index were ARB CORPORATION. and LIFESTYLE COMMUNITIES, down 12.39% and 5.73% respectively.

ECONOMIC NEWS: Australia Trade Surplus At A$12.237 Billion In December- Australia posted a seasonally adjusted merchandise trade surplus of A$12.237 billion in December, the Australian Bureau of Statistics said on Tuesday. Exports were down 1.4% on month to A$57.841 billion after slipping 1% in the previous month. A decline in mineral fuel exports was the main reason for the decline. Imports rose 1% on month to A$45.604 billion after shedding 1% a month earlier. Travel services were the primary driver of the increase.

Australia Hikes Interest Rate By 25Bps- Australia's central bank raised its benchmark rate by a quarter-point on Tuesday, as widely expected. At the first meeting of the year, the board decided to lift the cash rate target by 25 basis points to 3.35%. The interest rate on Exchange Settlement balances was also raised by 25 basis points to 3.25%. The current sequence of policy tightening has taken the cash rate target to 3.35% from 0.1%, indicating a total 325 basis-point increase since April 2022.

Among individual stocks, Macquarie Group was up 0.7% after revealing volatile energy and commodity markets had beefed up its profits, offsetting the weaker earnings in the investment heavyweight's flagship asset management arm.

Nuix's shares stormed up nearly 44% after its trading halt was lifted in the afternoon. A former chief executive of the tech company has lost a court battle that could have delivered him damages worth almost as much as the controversial tech stock's current market value.

CURRENCY NEWS: The Australian dollar was stood at 0.6932 against greenback on Tuesday, up by 0.75% from previous trading day closure at 0.6881 after trading in the range of 0.6883-0.6952.