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Market Update: Australian Shares Close at Fresh Record Highs
The ASX 200 fell 42.30 points or 0.59% to 7260.10 Thursday, closing at fresh record highs and extending gains for the 3rd consecutive session following the countrys stronger-than-expected first-quarter economic growth data earlier this week, while surging commodity prices further boosted sentiment. Local 10-year bond yields were at 1.617% while US 10-year rates were at 1.596%. Among stocks, BHP, Rio Tinto and Fortescue Metals were up 0.4%, 0.05% and 0.52% respectively. Among local data, Retail sales rose by 1.1% month-over-month in April, the second straight month of growth in retail trade, while Australia posted the largest trade surplus since January, as exports jumped 3% to a 13-month high of AUD 39.77 billion, while imports sank 3%. [/s2If]
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