Australian Stock Report - Market Pulse
Midday Market Analysis: Chinese Surprise
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Publish date: Tue, 17 Jan 2012, 01:30 PM
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Welcome to MarketPulse, the Australian Stock Report's financial market blog. In the MarketPulse blog we aim to provide frequent updates on current events across the financial markets, including market wraps, articles in the news, opinions, reviews, financial education and finally our top tip of the week. The blog is published by the Australian Stock Report research and report editing team together with our very own "Passionate Trader", Carl Capolingua.
After yesterday's weakness the Aussie market has bounced back quite strongly so far today.
The XJO is currently 55 points (+1.4%) to the good, trading around 4205.
Every sector is in positive territory with energy and materials amongst the strongest performers on the day.
Amongst individual stocks, Paladin Energy is up 11% after reporting a 47% increase in output for the final three months of 2011, whilst Goodman Fielder is the strongest of the top 200, up 14% on no news.
In economic news, Chinese GDP came in at 8.9% in the fourth quarter, slightly better than the 8.7% predicted by economists.
Around the region, Asian markets are all trading higher; the Hang Seng is 1.6% stronger whilst the Nikkei is up 0.9%.
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