Member access

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. (

Contact us in Singapore. 65 64154 140; 

Subscribe to WSJ:

React to this article
Latest news
Date Title
02:16a PAKISTAN STATE OIL : PSO announces Financial Results for 1HFY15
02:16a BANCO SANTANDER : Turbine facing refusal as dog joins objectors
02:16a DEBENHAMS : 10 paw-some CUSHIONS ; Liven up your living room with some fun animal designs.
02:16a MITSUBISHI MOTORS : Not just 'porma'
02:16a TATA STEEL : Fabrication firm floored by dispute on contract
02:16a British Airways take top spot on superbrand table
02:16a BRITISH AMERICAN TOBACCO : BAT Files Request To Buy Up Rest Of Souza Cruz, De-List It
02:16a HTC : shares fall on February sales, caution on new device
02:16a PHILIPPINE STOCK EXCHANGE : PSE tests new trading system ahead of May launch
02:16a MARKS AND SPENCER : China crisis ; companies today
Latest news
Hot News 
NXP Semiconductor Bets $12 Billion on Smarter Cars
FREESCALE SEMICONDUCTOR : SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation of The Board of Directors of Freescale Semiconductor, Ltd . -FSL
VP BANK : 2014 annual results of VP Bank Group: Group net income of CHF 20.0 million and stable core capital ratio of 20.5 per cent
PPHE HOTEL : profits rise on hotel success
PACIRA PHARMACEUTICALS : Other Events, Financial Statements and Exhibits (form 8-K)
Most Read News
03/02 OPOWER : reports 4Q loss
01:07a India's Sun Pharma to buy Glaxo's opiates business in Australia
03/02DJCostco Names Citi, Visa as New Credit Partners -- 4th Update
03/02 GRAINCORP : opens expanded operations in Port Kembla
03/02 Apple, Google poaching settlement appears headed for approval
Most recommended articles
02:15aDJCaixabank Plans to Quadruple Profitability Measure by 2018
02:12a Investor survey shows 38 percent expect euro zone to break up in 12 months
02:02aDJAustralia Shares Fall After Central Bank Holds Rates
02:01aDJSwiss 4Q GDP Growth Steady on Private, Government Spending
01:55a Aussie Dollar Soars as RBA Withholds Rate Cut, NZ Dollar Gains on Data
Dynamic quotes