Member access

4-Traders Homepage  >  News

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
Recommend:
0

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

Recommend :
0
React to this article
Latest news
Date Title
<1m ago CONTROL4 : Hayward(R) OmniLogic(R) to Be the First Certified Pool Controller Featuring Control4 SDDP for Control4(R) Home Automation Systems
<1m ago AUSTIN FILM FESTIVAL : ’s Opening Night Selections to Include Richard LaGravenese Presenting The Last 5 Years and the US Premiere of The Humbling
1m ago HERCULES TECHNOLOGY GROWTH CAPITAL : Alimera Sciences Receives $25 Million Advance from Hercules Technology Growth Capital
1m ago BREITLING ENERGY : Nominated for Platts Global Energy Awards – Exploration & Production
2m ago DUBAI FINANCIAL MARKET PJSC : Amanat To Launch AED 2.5 bn IPO On DFM In October
2m ago SAUDI ELECTRICITY : signs 2.56bn contract for Riyadh metro
2m ago AIRBUS : A380 breakeven goal still stands - CEO tells Le Figaro
2m ago DANA GAS PJS : signs agreement to increase gas production in Egypt
2m ago Yes on SB 270 Coalition Thanks Governor Brown for Making History
3m ago BANK ALFALAH : Karachi Stock Exchange Closing Rate of Commercial Banks dated 29-09-2014 - Press Release issued by Karachi Stock Exchange
Latest news
Advertisement
Hot News 
Bank derivatives boom ahead of ECB test results as investors play safe
News Corp to buy real estate website operator Move for $950 mln
CYAN : Executive Chairman role and grant of options
RAME ENERGY : Says Widened Loss Is "In Line With Expectations"
GULFSANDS PETROLEUM : First-Half Loss Narrows On Revenue Rise, Cost Reduction
Most Read News
12h ago QUINDELL : simply quizzical over its sliding shares
1d ago LENOVO : edges close to IBM server deal
1d ago SOFTBANK : DreamWorks Animation talks cool - WSJ
1d ago ALLERGAN : Valeant Pharmaceuticals' third-quarter sales to rise
1d ago BOEING : to shift most defense work out of Washington state
Most recommended articles
1m ago AIRBUS : A380 breakeven goal still stands - CEO tells Le Figaro
5m agoDJRussian Ruble Hits Record Low Against Target Currency Basket -- Update
6m agoDJU.K. Carries Out First Airstrikes in Iraq
10m ago Argentina defies U.S. court order by depositing debt payment
13m ago MICROSOFT : names next operating system 'Windows 10'
Dynamic quotes  
ON
| OFF