Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

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
05:04a GENERAL MOTORS : FAA and NHTSA using similar regulatory playbooks
05:03a EL POLLO LOCO : BRIEF: Motorcyclist dies after collision in El Cajon
05:02a AVTOVAZ : LADA started sales of XRAY crossover
04:47a WESTROCK : Shipping channel plan approved
04:30a SGS : Acquires Cargo Compliance Company
04:22a HSBC : Who will be crowned as BAE’s next king?
04:16a Modi urged to make reality match 'Make in India' hype
04:14a INSIGHT - STRESS AND THE CITY : Britain's bank workers buckle under pressure
04:07a BP : deepens commitment to Oman; to extend licence and develop second phase of major Khazzan gas field
03:59a SDIC ESSENCE : 86-billion-yuan lock-up shares tradable
Latest news
Advertisement
Hot News 
AVENIR TELECOM : CSU textiles, design museum opens four exhibits to mark major expansion
VENTURE LIFE : In GBP3.7 Million Fundraising To Buy Mouthwash Maker (ALLISS)
DEUTSCHE POSTBANK : self-service solutions put control in customers' hands
LONDON & ASSOCIATED PROPERTIES : AND ASSOCIATED PROPERTIES PLC - Director/PDMR Shareholding
Paragon Offshore to File for Bankruptcy
Most Read News
02/13 At 100, Bandelier National Monument faces a challenges, but still holds secrets
02/13 COLBY COLLEGE : Women’s hockey falls in another tight game
02/13 MINISTRY OF AGRICULTURE OF PEOPLE REPUBLIC O : LatAm reaps benefits of China's desire for 'luxury fruits'
02:44a NIOC NATIONAL IRANIAN OIL : After 4 years: European Vessels Arrive in Kharg Oil Terminals
01:34a CITY OF OLATHE KS : Forestry receives Gold Leaf Award
Most recommended articles
04:16a Modi urged to make reality match 'Make in India' hype
04:14a INSIGHT - STRESS AND THE CITY : Britain's bank workers buckle under pressure
01:37aDJHow Australia Is Surviving the Commodities Rout
01:01a PHILIPPINE AIR NEARS DEAL TO ACQUIRE AIRBUS A350S : sources
02/13 China to speed up large construction projects in 2016 - regulator