Afternoon trading November 9

Thanks @shovel40, @Fiji1, @Patterns and morning crew.

Half-time wrap:

A rebound in resource stocks helped lift the share market to its highest in three weeks as optimism over government support for China's property sector outweighed mixed leads from Wall Street.

The ASX 200 climbed 42 points or 0.6% by mid-session. South32 and Fortescue Metals were amongst the pick of the heavyweights after Chinese authorities stepped in to prop up struggling property developer Country Garden, and its central bank called on lenders to support the real estate sector. The news helped steady iron ore prices.

CBA and CSL were also strong as the financial and healthcare sectors hit the front. Tech stocks, gold miners and energy producers dragged.

Inflationary pressures continue to subside in China, according to data this morning. Consumer prices were 0.2% lower last month year-on-year. Producer prices contracted by 2.6%.

US stocks finished mixed but little changed overnight as the market continued to consolidate following a run of strong gains. The S&P 500 edged up 0.1% to an eighth straight gain, its best run in two years.


Personal trading: Waited for a pullback entry in one of the early runners, tossed up between OD6 and KTA and boy did I back the wrong un, lol. Fared better with centrepoint trades in PCL, AZL and BRN.