Australia's stock exchange slowly clawed back some of the losses from the previous trading day. -AAP Image
Australian shares have tailed a rebound on Wall Street overnight, but investors remain cautious as a fog of uncertainty hangs over incoming US tariffs.
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The S&P/ASX200 was up 69 points, or 0.88 per cent as markets closed, to 7,912.4, while the All Ordinaries gained 61.4 points, or 0.76 per cent, to 8,114.6.
The performance came as the Reserve Bank of Australia took an expected decision to hold the cash rate steady at 4.10 per cent, but concerns about a tight labour market led analysts to reduce bets on a May cut.
All 11 local sectors finished higher, led by a 2.2 per cent rally in real estate stocks and a 1.8 per cent lift in utilities stocks.
The Australian dollar faced some volatility following the RBA decision, but it ultimately resolved to the upside, with the Aussie buying 62.67 US cents, still slightly lower than 62.81 on Monday at 5pm.
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