Australia's Share Market Rises Amid Dovish Rate Decision

Australia's share market rose on Tuesday, despite an initial rally after the Reserve Bank held interest rates steady at 4.35 percent.

The S&P/ASX200 index gained 18 points, or 0.19 percent, to 9,250.6, while the broader All Ordinaries index increased 19.6 points, or 0.21 percent, to 9,443.7.

Analysts were mixed on Reserve Bank governor Michele Bullock's comments after the rate decision, with some noting a dovish tone that suggests further hikes may be less likely.

Schroders head of fixed income Kellie Wood said, 'This was a hold with a dovish edge. The board is still talking tough, but the forecasts suggest it is increasingly confident policy is already restrictive enough to finish the job.'