Australian share market rebounds 1.5 pct in early trade

Alsharq Tribune-Otaify

Australian shares rebounded in early trade on Tuesday after the market recorded its worst day in 11 months on Monday as surging oil prices triggered a sharp sell-off.

The benchmark S&P/ASX 200 rose by 1.5 percent to 8,726 points within 15 minutes of trading opening at 10 a.m. Australian Eastern Daylight Time on Tuesday (2300 GMT on Monday).

It comes after the index fell by 2.9 percent on Monday to 8,599 points at the close of trading in a 90 billion Australian dollar (about 63.7 billion U.S. dollar) wipeout that was its worst single day since U.S. President Donald Trump's announcement of sweeping tariffs in April 2025.