Afternoon trading June 20

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    Thanks @shovel40, @Fiji1 and morning crew.


    Half-time wrap:


    The share market's win streak extended to a seventh session and a seven-week high after China announced fresh stimulus measures.

    The ASX 200 climbed 0.73% to 7348 by the halfway mark. Energy providers, banks, miners and property companies led the advance. Industrials and healthcare providers dragged.

    The rally followed news China's central bank this morning cut select lending rates today for the third time in a week.

    Also encouraging buyers was the release of the minutes from this month's RBA policy meeting, which dropped a reference to "further tightening". The minutes indicated the arguments for and against raising the cash rate target this month were "finely balanced", suggesting a pause is possible next meeting.

    The market shrugged off overnight weakness in European markets and a modest retreat in US equity futures. S&P 500 futures dipped 0.22% ahead of the resumption of trade following the Juneteenth public holiday.



    Personal trading: You know things are slow when you find yourself mulling buying retraces in DUB and FBR. (Don't worry @Endless, I didn't!) Not much moving with any volume this session. Hopefully things will pick up tomorrow after the US reopens. Only trade today was a pip sell in RR1 after buying Friday's low.

    Last edited by highlandlad: 20/06/23
 
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