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
2m ago UNITED INTERNET : 03.09.2014 United Internet acquires 100% of Versatel shares
2m ago UNITED INTERNET : acquires 100% of Versatel shares (03 09 2014 Ad hoc announcement acc to Sec 15 WpHG)
5m ago SAMSUNG HEAVY : LADOL, Samsung Pact On U.S. $3.8 Billion Project to Create 50,000 Jobs
6m ago CHINESE PEOPLE : Asian editorial excerpts
6m ago US DOLLAR TECHNICAL ANALYSIS : Aiming to Extend Advance
9m ago HSBC : China Service Sector Activity Grows In August
16m ago EUR/USD TECHNICAL ANALYSIS : Selloff Stalls at One-Year Low
16m ago USD/JPY TECHNICAL ANALYSIS : Year-to-Date High in Sight
16m ago Central Petroleum Limited Conference Presentation - RIU Good Oil Conference
17m ago CENTRAL PETROLEUM : ASX:CTP) Conference Presentation - RIU Good Oil Conference
Latest news
Advertisement
Hot News 
COMPUWARE : Harwood Feffer LLP : Announces Investigation of Compuware Corp.
CTRIP : Royal Caribbean Cruises Ltd. : to Sell Celebrity Century to Ctrip
BAIDU : IndoorAtlas : Receives US $10 Million Investment From Baidu and Signs Exclusive Agreement for Chinese Market
SANTANDER CONSUMER USA : Announces Secondary Offering by Sponsor Auto Finance Holdings Series LP
HOME DEPOT : may be latest retailer to be hacked; investigates suspicious credit card activity
Most Read News
1d ago APPLE : Celebrity hacking clouds Apple's upcoming product launch
1d ago HOME DEPOT : may be latest retailer to be hacked; investigates suspicious credit card activity
1d ago GLENCORE : Vale, Glencore break off talks over Canada nickel deal: sources
1d ago CTRIP : Royal Caribbean Cruises Ltd. : to Sell Celebrity Century to Ctrip
1d ago 1 AUTOMOTIVE : Announces Conversion of 2.25% Convertible Senior Notes due 2036
Most recommended articles
2d agoDJZambia Copper Miners Say Crippled by Unpaid $600 Million Tax Refund-Mines Body
5d ago S&P 500 edges up to set new record; best month since Feb
6m ago US DOLLAR TECHNICAL ANALYSIS : Aiming to Extend Advance
16m ago EUR/USD TECHNICAL ANALYSIS : Selloff Stalls at One-Year Low
16m ago USD/JPY TECHNICAL ANALYSIS : Year-to-Date High in Sight
Dynamic quotes  
ON
| OFF