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Australian shares gave up early gains to end almost flat on Tuesday as investors wondered whether the easing cycle might now be over after the central bank cut its cash rate for the second time this year.
The statement announcing the cut noted some improvement in the economy while omitting a mention that further action could prove necessary.
The S&P/ASX 200 index came off a peak of 5,901.80 points hit in early deals to end a point lower at 5,826.50.
New Zealand’s benchmark NZX 50 index rose 0.4 per cent or 20.7 points to finish the session at 5,787.79.
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