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

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

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. (david.rogers1@wsj.com)

 
Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com 
 
 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
05:39p CRYSTAL AMBER FUND : Notice of AGM
05:39p GLOBAL BIOENERGIES : joins PREEM, SEKAB and SVEASKOG in the "bio-based gasoline project" in Sweden
05:38p QUARTERLY EPS ESTIMATE FOR GRANITE CONSTRUCTION INCORPORATED : $0.5
05:38p INTERCONTINENTAL HOTELS : Malvikka Mittal has been appointed Revenue Manager at InterContinental San Francisco - CA, USA
05:38p ALOK INDUSTRIES : approves appointment of Directors
05:38p SUNE CAPI : Sunshine Capital, Inc. Announces Appointment of Stock Market Magnate, Adam T. Petty as New President & CEO
05:38p HILLIARD LYONS : Welcomes New Director of Learning and Development Team
05:38p MSON The Law Offices of Vincent Wong Notifies Investors of a Class Action Involving Misonix, Inc. and a Lead Plaintiff Deadline of November 18, 2016
05:37p RPSEA : Releases Bold New Strategic Plan to Tackle Industry’s Biggest Challenges
05:37p PLANT OIL MARKET IN UNITED STATES : Business Report 2016 - Research and Markets
Latest news
Advertisement
Hot News 
15.79%Germany's Lanxess to buy U.S. chemical firm Chemtura for $2.7 billion
8.41%Lanxess Shares Rise on Acquisition of Chemtura
-4.34%CBOE Holdings to Buy Bats for $3.2 Billion
11.33%Lamprell Secures $90 Million Vessel Upgrade Contract
-2.56%VAIL RESORTS : Revenue Grows on Season Pass Sales
Most Read News
04:54a LOTTE CHEMICAL : South Korea prosecutors seek arrest warrant for Lotte Group chairman
04:33a Germany's Lanxess to buy U.S. chemical firm Chemtura for $2.7 billion
08:01a Aldi UK says profit fall won't change German parent's investment plans
04:25aDJU.S. Stocks Decline Broadly
10:31a TSX falls in broad retreat; energy, mining stocks gain
Most recommended articles
11:36aDJPFIZER : Throws Out Plan to Split Into Two Companies -- 2nd Update
11:36aDJMYLAN : Clarifies EpiPen Profit Figures it Provided to Congress Last Week
11:35aDJNOBLE ENERGY : Investors in Israeli Natural Gas Agree Supply Deal With Jordan
11:32a Analysis - 'Re-Polonisation' puts banks under government scrutiny
11:30aDJDEUTSCHE BANK : Shares Drop on Fears of Capital Raising -- 3rd Update