Australian Market Modestly Higher

(RTTNews) - The Australian stock market is trading modestly higher on Tuesday, extending the gains in the previous session, with the benchmark S&P/ASX 200 above the 7,400 level, despite the lack of cues from Wall Street overnight, on higher crude oil prices and as traders as traders digested data showing a stronger than expected pace of expansion of the Chinese economy. Meanwhile, traders remain concerned over the domestic Covid-19 cases, though the daily new cases are on a slight decline, but deaths are increasing. New South Wales reported 29,830 new cases and 36 deaths on Monday and Victoria also reported 20,180 new cases and 22 deaths. Queensland recorded 15,962 new cases and 16 deaths and Tasmania reported 1,310 new cases.