Thanks Tweets. Half-time round-up:
Australian shares advanced to a 19-month high this morning but trimmed gains after Chinese GDP figures flagged the fastest growth in three years.
At 1pm the ASX 200 was ahead 9 points or 0.2% at 5003, the first time the benchmark index has traded above 5000 since September 2008. There were solid gains for property trusts +1.4%, industrials +0.5% and financial stocks +0.4% and losses in traditional defensive sectors including telecoms, health and utilities.
Chinese gross domestic product figures released at mid-day showed growth in our largest trading partner accelerating last quarter to 11.9% from 10.7% in the previous quarter - ahead of predictions of growth of 11.5%. The rate is the highest since 2007, when growth hit 13%.
Chinese industrial output expanded 19.6% compared to a year earlier and the consumer price index rose 2.2% year on year, the government said.
Back home, local consumer expectations of inflation rose in April, according to a Melbourne Institute survey. The median expectation for inflation rose 0.9% to 4.1% last month, suggesting inflation pressure is building.
"This month's report indicates inflation pressure is mounting after a relatively stable period," Melbourne Institute research fellow Michael Chua said in a statement quoted on Fairfax. "For the first time since February 2009, the proportion of consumers expecting inflation to be within the RBA's 2-3 per cent band, is below its 12-months moving average."
Asian markets were mostly higher. Japan's Nikkei climbed 0.7%, Shanghai was little changed -1% and Hong Kong's Hang Seng rose 0.3%. Dow futures were recently at -11.
Crude oil futures inched 15 cents higher this morning to $86.09 a barrel. The spot gold price was $1 higher at $1,157.20 an ounce.
A fair morning's work here but no fireworks. Bounce scalps in SXL, SEK and MDL. Position still open in ALL. Best trade is BAU, acquired near yesterday's low.
- Forums
- ASX - Day Trading
- daytrades april 15 afternoon
daytrades april 15 afternoon
-
- There are more pages in this discussion • 129 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
FHE
FRONTIER ENERGY LIMITED
Adam Kiley, CEO
Adam Kiley
CEO
SPONSORED BY The Market Online