Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  News


Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

MARKET COMMENT : S&P/ASX 200 Up 1.4% As Buyers Resurface

02/21/2013 | 07:42pm US/Eastern

0026 GMT [Dow Jones] Australia's S&P/ASX 200 surges 1.4% to 5047.7, putting it on track for its biggest rise since July 27, after falling 2.3% yesterday, its biggest decline since May 18. "It was massively oversold yesterday," says a senior trader at a major broker. "There are still a lot of people looking to buy the dip," says another trader. Analysts say the market over-reacted to the Fed minutes. "I think people got the minutes very wrong," says Chris Weston, chief market strategist at IG. "There's obviously a healthy debate in the Fed, but anyone who sold on the minutes will be disappointed because voting Fed members remain dovish, and Fed Chairman Bernanke is likely to confirm that next week." Mr. Weston says Friday's "snap-back" rally confirms the strong demand for Australian equities. He sees tonight's German IFO business survey data and the extent of repayments on the ECB's long-term refinancing operation as the next catalysts, and adds that the Australian market isn't too concerned about Italian elections at the weekend. (david.rogers1@wsj.com)

Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com 

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

React to this article
Latest news
Date Title
11:36a FERRARI NV : Business as usual for mercedes, disaster for ferrari
11:28a FERRARI NV : Formula One - Rosberg hits a six with Abu Dhabi pole
11:27a ARTINI CHINA : 2015-11-27 grant of share options
11:24a AMERICAN EXPRESS : Big season for small business
11:19a KANSAI ELECTRIC POWER : Kepco files bid to extend life of aging Mihama reactor
11:12a PUBLIX SUPER MARKETS : After Thanksgiving, it's the season for Christmas trees in South Florida
11:07a U S MASTERS : Charl Schwartzel takes 3-shot lead into last round of Alfred Dunhill Championship
11:06a VERIZON COMMUNICATIONS : Plantation cell tower denied in first vote
11:06a PUBLIX SUPER MARKETS : Big Red - One Blood
11:02a OCTANEX NL : OPSB awarded EPCIC contract to Muhibbah
Latest news
Hot News 
OPPORTUNITY INVEST MGMT : 27 november 2015 - Announcement AGM on 22 december 2015
ATLANTIS RESOURCES : Tidal generating firm announces long partnership for investment by Gordon Calder
CYTOTOOLS : berichtet über Ergebnisse der europäischen klinischen Studie Phase III: Resultate der Behandlung des diabetischen Fußes mit DermaPro(R) bestätigen nicht die Ergebnisse der vorangegangenen Studien (DGAP News)
STOCK SPIRITS : Further Downgrades Earnings Guidance For 2015
IMAGINATION TECHNOLOGIES : Sir Hossein Yassaie receives 2015 Lifetime Achievement Award in annual Elektra European Electronics Industry Award...
Most Read News
04:51a NIOC NATIONAL IRANIAN OIL : Iran’s Largest Oil Investement Event Opens
11/27 RESEARCH AND MARKETS : Rotavirus Infections Therapeutic Development - Pipeline Review & Analysis, H2 2015
07:37a NIOC NATIONAL IRANIAN OIL : On the sidelines of Tehran Summit: Oil Moguls Eying on Irans 50 Investment Opportunities
03:55a EUROPEAN COMMISSION : Antitrust: new Commission Guidelines on joint selling of olive oil, beef and veal, and arable crops
11/27 RESEARCH AND MARKETS : Acute Renal Failure (ARF) (Acute Kidney Injury) - Pipeline Review & Analysis, H2 2015
Most recommended articles
10:23a DEUTSCHE LUFTHANSA : Lufthansa agrees on pay with ground personnel - Verdi union
10:15a EUR/USD Prepares for its Most Important Week in Months (If Not Years!)
05:45aDJWill Black Friday Deals Give a Boost to Car Sales?
02:48aDJBrazil Plans Suit On Dam Breach, Toxins In River
02:48aDJToshiba Mulls Sale Of Chip-Unit Stake