SYDNEY, March 10 (Xinhua) -- The Australian share market closed up 1.1 percent on Tuesday after shedding some of the gains made in early trade.
The S&P/ASX 200 index, which contains the top 200 stocks listed on the Australian Securities Exchange (ASX), closed at 8,692.6 points on Tuesday, up 1.1 percent from 8,599 at the opening of trading at 10 a.m. Australian Eastern Daylight Time (2300 GMT on Monday).
The benchmark index rose by 1.5 percent in the first 15 minutes of trade on Tuesday, and hit a high of 8,750.6 points shortly after 10:30 a.m. AEDT, but lost some of those gains through the rest of the day.
It comes after the index posted a 2.9-percent loss on Monday in its worst day in 11 months as surging oil prices triggered a sharp sell-off.
Jamie Hannah, deputy head of investments at asset management firm VanEck Australia, told the Australian Financial Review on Tuesday afternoon that markets were treating the spike in oil as temporary, but he warned that supply disruption could last for months.
As of the close of trade, the S&P/ASX 200 had fallen by 0.25 percent since the start of 2026. ■
