Given the pace of recovery, we believe the government's credit metrics can withstand further negative shocks to the economy and its fiscal position at the current rating level.
Massive spending was targeted towards housing, healthcare and infrastructure, while funds were also allocated to addressing child poverty and climate change.
"If the US Fed steps into buy bonds and keep real yields negative tonight, then you might see a short-covering rally in tech. If not, tech will continue to slide."
Australia's regulator said it was open to granting exceptions to aid airlines' recovery, but not at the expense of reducing competition in the long term.
Crown Resorts jumped 0.5% after it received a A$3 billion ($2.32 billion) offer from US private equity firm Oaktree Capital to buy James Packer's 37% stake in the casino operator.
"We simply cannot get to net-zero carbon emissions by 2050 unless the financial sector knows what impact their investments are having on the climate," he said.