Thought some might be interested in this. Came through in news...

Thought some might be interested in this. Came through in news section of MQPrime:


0504 GMT [Dow Jones]S&P/ASX 200 up 1.6% at 3726.6, hits 3736.6 amid talk of large index fund transition related buying through a major broker. "There's a big index transition portfolio going through," says an institutional trader. "If you look at the big index stocks such as the major resources and banks, it's pretty obvious someone is executing a big index portfolio." Some recent selling has been attributed to active fund managers losing investment mandates. Money might now be flowing back into an index fund. "There is something underpinning this market and it does seem there's an index transition, where an active manager lost money to an index manager." Says market would otherwise be up only 20 points on Kirin's takeover offer for Lion Nathan (LNN.AU). Short covering could lift index to 3760 pivot level, now that 3700 has been decisively broken, according to Dow Jones Newswires technical analysis. (DWR)