Australia market rebounds on bargain hunting

The Australian share market closed higher for the first time in six consecutive sessions on Tuesday, 12 May 2015, as investors chased for bottom hunting across the board, on optimism over the federal government's annual budget, due to unveil after the close of trade. The benchmark S&P/ASX 200 Index advanced 49.50 points, or 0.88%, to 5674.70 while the broader All Ordinaries Index added 45.50 points, or 0.81%, to 5673.10. Market turnover was relatively healthy, with 1.98 billion shares changing hands worth of A$6.08 billion.

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