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Asian shares broadly up, but Australia decline continues

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Asian shares were broadly higher Tuesday, with export names buoyed by the U.S. dollar’s strength, though stocks in Australia extended declines after the central bank there kept interest rates unchanged.

The Nikkei Stock Average closed up 0.3%, hitting a fresh three-month high, and building on last week’s 3.5% gain. Singapore’s Straits Times Index added 1.6% on rising oil prices, while Hong Kong’s Hang Seng Index gained 0.5%.

In Australia, the S&P/ASX 200 ended down 0.3%, following the Reserve Bank of Australia’s decision Tuesday afternoon to keep rates steady at 1.5%. The RBA eased monetary policy in May and August.

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Paul

The author Paul