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Australian Market Report of November 28: A Quiet Day

🕔11/28/2008 1:00:12 PM 13577

On Thursday, the Australian share market closed higher for a fourth day with around 1.4 per cent stronger led by the big miners as commodities surged. The benchmark S&P/ASX200 index closed up 48 points, or 1.36 per cent, at 3588, while the broader All Ordinaries gained 48.6 points, or 1.4 per cent, at 3528.2. Analysts said the market seems to be a little quiet with less participation, except for some fluctuation after BHP's decision of dumping its takeover bid for Rio Tinto.

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Australian Market Report of November 24: Surge Amid Bear Market

🕔11/24/2008 1:00:59 PM 13025

The Australian stock market staged a late rally on last Friday, with the benchmark S&P/ASX200 index closing up 63.6 points, or 1.9 per cent, at 3,416.5, while the broader All Ordinaries index gained 54.3 points, or 1.63 per cent, to 3,386.9. Market is struggling to recover with some "bear market rally" although the fundamental problems remain. Analysts said the recent fluctuation is because of uncertainty and the political factors are important at this stage.

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Australian Market Report of November 20: Lack of Catalyst to Rise

🕔11/20/2008 1:00:53 PM 12839

On Wednesday, the Australian sharemarket closed lower despite a positive start led by rally on Wall Street overnight. The benchmark S&P/ASX200 index was down 23.6 points, or 0.67 per cent, at 3,499.63 while the broader All Ordinaries index shed 29.9 points, or 0.85 per cent, to 3,483.23. The market has lost half its value, or A$804 billion in just over one year. Analysts say that the overall trend may not change without catalyst for the market to go up while the overseas will pull the Australia market lower each time it seems to hit the bottom.

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Australian Market Report of November 17: Close to the Bottom

🕔11/17/2008 1:00:06 PM 7739

Wall Street slumped on Friday with hedge fund selling in advance of a Saturday deadline. On Friday, the Australian sharemarket reversed its sharp losses of mid week to close up over one per cent following a strong US lead and higher base metals prices. As the G-20 leaders failed to come up with specific stimulus action after their weekend meeting in Washington, analysts expect the market volatility to continue but it would be getting close to the bottom.

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Australia Market Report of October 24: Gains of the Week Gone

🕔10/24/2008 1:00:39 PM 10789

During yesterday's trading, Australian stocks closed lower for the second consecutive day on Thursday, falling by more than 4%. The market was dragged down by big losses in the resources sector amid renewed fears of a global economic slowdown. The two days drop gave up all the gains early this week.

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Australia Market Report of October 15: Market Wild Rally to End

🕔10/15/2008 12:00:00 PM 11171

Yesterday, the Australian share market ended almost 4% higher in its best two-day gain since 1975, adding $42 billion to the value of stocks listed in the All Ordinaries index. As confidence was buoyed, investors rushed back to the big miners and banks and pushed the two-day rally to 9% in total. The benchmark S&P/ASX200 index was up 154.5 points, or 3.7%, at 4335.2, while the broader All Ordinaries index gained 169.6 points, or 4.09%, to 4311.5.

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Australia Market Report of October 14: Has the Worst Passed?

🕔10/14/2008 1:00:00 PM 11710

Yesterday Australian shares rallied to their biggest one-day gain since October 1997. Confidence in Australian banks was buoyed by Prime Minister Kevin Rudd's announcement that all deposits in Australian financial institutions would be guaranteed for three years. Analysts said last week the market probably hit the bottom when investors were in the depths of fear and panic, but recovery may cost a long time. Despite the short-term buoyancy, the Australian market remains fearful of deeper plunges, especially if the powerful US market continues to falter.

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Australia Market Report of October 8: Aussie Dollar to Face Selling Pressure

🕔10/8/2008 12:30:59 PM 9244

Overnight Wall Street closed more than 5% down on growing fears that the spiralling credit crisis would drag the US economy into a recession. While the global financial crisis deepened, RBA cut the interest rate by a full percentage point, double the amount that had been expected.

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Australia Market Report of September 23: Market Sentiment Changed

🕔9/23/2008 12:30:47 PM 11910

Yesterday the Australia share market surged more than 4% after the US government announced the $US700 billion ($840 billion) Wall Street bailout over the weekend, and the ban on short selling locally. Short-selling targets Macquarie Group(ASX:MQG) and Babcock and Brown(ASX:BNB) bounced strongly as market participants sought to unwind short positions and bought up stock.

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Australia Market Report of September 18: Markets Worry Who Will Be Next

🕔9/18/2008 12:30:53 PM 12499

The Australian share market closed lower yesterday despite a positive lead from US markets and the United States central bank's rescue of global insurer American International Group (AIG). Overnight Wall Street plunged more than 4% after the US Federal Reserve has announced it would provide AIG with an $US85 billion rescue loan to save it from bankruptcy.

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