Wall Street posted modest gains on Tuesday in choppy trade as investors started to be cautious after the recent rallies inspired by earnings results. In addition, US Federal Reserve Chairman Ben Bernanke said in testimony the pace of decline appears to have slowed significantly, but the financial system remained stressed and the labour market had continued to deteriorate.
Paper & Pulp
The Australian share market closed firmer on Friday led by financial stocks. The benchmark S&P/ASX200 index was up 47.8 points, or 1.24 per cent, to 3903.8 points, while the broader All Ordinaries index advanced 48 points, or 1.25 per cent, to 3899.5 points. Trading volume is expected to remain at a low level before the reporting season.
The Australian shares were broadly higher. The benchmark S&P/ASX200 rose 76.4 points, or 2 per cent, at 3894.4, while the broader All Ordinaries gained 74.6 points, or 1.96 per cent, to 3887.9 points. Besides the strong lead from Wall Street, the rising commodities prices may also push up the market today.
The Australian share market ended higher on Friday, led by banking stocks. The benchmark S&P/ASX200 index rose 62.4 points, or 1.66 per cent, to 3,818.1, while the broader All Ordinaries index gained 59.4 points, or 1.58 per cent, to 3,813.3.
Yesterday the Australian shares closed slightly lower as falls in financial stocks overshadowed the gains in big miners. The benchmark S&P/ASX200 index was down 0.1%, or 5.4 points, at 3747.5, while the broad-market All Ordinaries index fell 0.1%, or 4 points, at 3693.9.
Despite the adverse environment under the global economic slowdown and dwindling market demand, Overseas Chinese Town (Asia) Holdings Limited (HKG:3366), together with its subsidiaries the "Group"), a top-of-the-line paper packaging products manufacturer in China, finds its principal business keeping a steady development pace.
Yesterday the Asian major bourses posted losses, driven by negative sentiment caused in large part by doubts over the financial rescue package in the US and profit-taking. The US President Barack Obama was sending Congress a budget that projects the government's deficit for this year will soar to US$1.75 trillion, reflecting efforts to pull the nation out of a deep recession and a severe financial crisis.
Banking & Finance
- ISX Financial Announces the Launch of PaidBy(R) in the United Kingdom
- ISX Financial EU PLC Appoints New Board Director - Paul Barnes
- ISX Financial's Probanx Announces New Fintech FPS Aggregation Service
Oil Gas & Energy
- Deep Yellow Limited (ASX:DYL) Resource Drilling Grows Tumas Towards Plus 30 Year LOM
- Cobalt Blue Holdings Limited (ASX:COB) Investor Webinar 29 November 2023
- Cobalt Blue Holdings Limited (ASX:COB) To Progress Cobalt Nickel Refinery Project in 2024