Thanks afternoon crew.
End-of-day summary:
The share market rose for a second day after better-than-expected economic data indicated China's economy was emerging from its recent malaise.
The ASX 200 overcame a morning wobble to advance 21.5 points or 0.3%. Resource stocks led as crude oil jumped almost 2.1% and Chinese growth figures topped expectations.
Third-quarter Chinese GDP expanded by 1.3% for annual growth of 4.9%. Economists had predicted the annual figure would drop to 4.5%. Factory output, retail sales and employment figures were also better than expected, raising hopes the government's drip-feed of stimulus measures is having a positive effect.
The market struggled for much of the session as bond yields pushed back towards 12-year highs, dulling demand for equities. The 10-year yield has gained roughly 20 basis points in two sessions as traders factor in the risk of another rate hike next month.
- Forums
- ASX - Day Trading
- Day traders' after-market lounge October 18
Day traders' after-market lounge October 18
- There are more pages in this discussion • 41 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)