The Australian share market has closed up slightly, having given up some of its gains following the Reserve Bank's decision to keep rates on hold for a record 33rd month.
The benchmark S&P/ASX200 index fell 30 points in the five minutes after the RBA's decision to close up 12 points, or 0.19 per cent, to 6295.7 points at 1615 AEST on Tuesday. The broader All Ordinaries was up 13.6 points, or 0.21 per cent, to 6,383.5.
The Aussie dollar had the opposite reaction, spiking against the US dollar. It was buying 70.35 US cents, from 69.91 US cents on Monday.
The mining sector had strong gains, up 1.33 per cent collectively, after a court in Brazil ordered Vale to halt operations at its Bructu iron ore mining complex, reversing a lower court's decision to allow it to reopen.
The company has been under intense scrutiny ever since a dam collapse at another one of its mines in Brazil killed hundreds of people in January.
A prolonged closure of the mine could cause another crunch in the supply of iron ore.
Prices for low grade ore spiked in particular, and Fortescue Metals, which mostly produces it, gained 6.29 per cent to $7.60 - making it the biggest gainer on the ASX200.
BHP gained 1.36 per cent to $37.30, South32 gained 1.82 per cent to $3.36 and Rio Tinto was up 2.25 per cent to $96.05.
The banking sector was down 0.27 per cent as a whole, with Commonwealth down 0.44 per cent to $74.61, Westpac down 0.18 per cent to $27.06, NAB down 0.31 per cent to $25.84 and ANZ down 0.18 per cent to $27.50.
GrainCorp was the biggest decliner on the ASX200, falling 6.96 per cent to $8.15 after Long-Term Asset Partners withdrew its takeover offer for the bulk grain handler.
Actinogen Medical crashed 68.75 per cent to 1.5 cents after the Sydney biotech company said two-year trial of its drug to treat Alzheimer's disease hadn't shown it worked any better than a placebo.
Landmark White shares dropped 26.32 per cent to 28 cents after they resumed trading from a near three-month suspension following a client data breach that cost the property valuation company at least $5 million in lost profit and led to the resignation of its CEO.
Blue Ocean equities analyst Mathan Somasundaram said that with the RBA decision out of the way, traders would next be looking to see if the US and China reach a resolution to their trade war this week or if the US hikes tariffs again, as it has threatened.
"It's beginning to look at a lot like Brexit," he said, referring to the long drawn-out nature of the talks.
ON THE ASX:
* The benchmark S&P/ASX200 index was up 12 points, or 0.19 per cent, to 6,295.7 points at 1630 AEDT on Monday.
* The All Ordinaries was up 13.6 points, or 0.21 per cent, to 6,383.5.
* At 1630 AEDT, the SPI200 futures index was flat at 6,281.
CURRENCY SNAPSHOT AT 1630 AEDT:
One Australian dollar buys:
* 70.35 US cents, from 69.98 US on Monday
* 77.90 Japanese yen, from 77.43
* 62.73 euro cents, from 62.46
* 53.60 British pence, from 53.29
* 106.30 NZ cents, from 105.52
