Thanks Endless. Half-time round-up:The Australian share market...

Thanks Endless.

Half-time round-up:

The Australian share market is on track for a third straight winning week, helped by a rebound in Shanghai and positive US futures this morning.

At lunchtime the ASX 200 was 15 points or 0.35% ahead at 4412 and within reach of Wednesday's four-month closing high. A broad rally lifted most sectors, including energy stocks +0.6%, financials +0.5% and property trusts +0.7%.

"There's a tug of war in the markets," a fund manager at Shinkin Asset Management in Japan told Bloomberg. "Investors remain uncertain about the global economy despite support from stimulus. Some investors expect the US economy to improve by the end of year, while Europe, China and Japan aren't very good but are treading water thanks to easing measures."

The tug of war was won by the bulls in Asia this morning. Shanghai rallied 0.27%, Hong Kong's Hang Seng 0.78% and Japan's Nikkei 0.61%. Dow futures were recently up 40 points or 0.3%.

Crude oil futures were flat this morning to US$92.14 a barrel. Spot gold was 60 cents firmer at US$1,771.30 an ounce. The dollar was buying $US1.0469.


Bullish signs in Shanghai and New York. The ASX might manage a jog higher this afternoon. I could tell you how I spent the morning but after what MEU did that would be a bit like bragging about a new second-hand Lada to someone who just acquired a Porsche. Suffice to say my morning involved scalps in JIN, NUF and PEX and the figure "400%" did not feature. Added some TTE on pullback. Well done to those of you drowning in champagne.