Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Markets

News : Markets

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/22/2013 | 01:42am CEST

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. ([email protected])

 
Contact us in Singapore. 65 64154 140; [email protected] 
 
 

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

Stocks mentioned in the article
ChangeLast1st jan.
S&P/ASX 200 -0.24% 6210.4 Real-time Quote.2.64%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Markets"
09:40aTSX opens lower on trade fears, oil slide
RE
08:49aGlobal Stocks Slide as Trade Tensions Threaten Growth
DJ
08:15aWALL STREET STOCK EXCHANGE : S&P 500, Nasdaq Futures -- Technical Analysis
DJ
08:02aMARKET SNAPSHOT: Dow Futures Drop Over 150 Points As Trump Makes More Trade Threats
DJ
07:47aStocks sink on trade fears, oil falls
RE
07:47aStocks sink on trade fears, oil falls
RE
07:20aGlobal Stocks Slide as Trade Tensions Threaten Growth
DJ
07:08aEUROPE MARKETS: European Stocks Drop Sharply As Trade Fears Lead To 'dark Mood'
DJ
06:59aASIA MARKETS: Asian Markets Driven Lower As Trade Tensions Flare Up
DJ
06:48aLONDON MARKETS: FTSE 100 Falls As Trade Fears Show No Sign Of Abating
DJ
Latest news "Markets"
Advertisement