The consumer discretionary sector advanced almost 1% at midday Tuesday, on the hopes of a 25 basis point cut to the cash rate by the Australian central bank later the same day.

The US and China extended a trade truce for another 90 days, pausing tariff hikes.

Star Entertainment Group (ASX:SGR), whose shares jumped over 26%, and various units entered into binding long-form documentation with Chow Tai Fook Enterprises and Far East Consortium International, in relation to the Destination Brisbane consortium, the Destination Gold Coast consortium, and other assets in Brisbane. The key aspects of the deal are "materially consistent" with a March 7 heads of agreement.

On the other hand, the Industrials sector slipped almost 1%, as shares of SGH (ASX:SGH) fell over 9%.

SGH reported fiscal year 2025 underlying earnings of AU$2.26 per share, unchanged from a year earlier. Revenue for the 12 months ended June 30 was AU$10.74 billion, compared with AU$10.61 billion a year earlier. The company said it expects fiscal 2026 earnings before interest and taxes growth of low- to mid-single digits.