Yesterday the Australian share market extended its gains despite a weak lead on Wall Street. The benchmark S&P/ASX200 rose 0.8%, or 29.3 points, at 3609.3, while the broader All Ordinaries added 0.8%, or 28.9 points, at 3546.2.
Asian markets extended strong gains Tuesday. However, investors were still cautious although US shares jumped nearly 7% a day earlier. On Wednesday most major indices in Asia opened modestly lower following the weak lead of Wall Street.
Yesterday the Australian shares ended modestly higher despite a strong lead overseas. The market in late trading gave up some of its early gains as investors started to pocket their profits in recent rallies. The benchmark S&P/ASX200 index was up 0.8%, or 29.7 points, at 3580, while the broader All Ordinaries index rose 1%, or 34.2 points, at 3517.3. Today resource stocks may decline after metals prices fell.
All major indices in Asia opened significantly higher as the US government's plan on bad debts fires up investors' sentiment. Some markets rose 3% or more on Monday and extended their strong rising streak today with financial stocks react the most.
Asian markets opened mixed Friday. Japan's Nikkei average jumped above 8000 points in early trade while South Korea's Kospi was higher led by shipbuilders and steelmakers. Other markets include Hong Kong, Singapore and Shanghai opened flat following the falls on Wall Street.
Yesterday Australian shares closed 1% higher as most sectors surged. The benchmark S&P/ASX200 index rose 33.9 points, at 3480.2 while the All Ordinaries index was up 0.9%, or 30.60 points, at 3416.8. The local mining and energy sectors could be buoyed by the rising gold and oil prices today despite the negative lead from the US.
Asian markets opened broadly firmer today after the Wall Street rally boosted by the unexpectedly good housing data in the US. Japan's Nikkei share average rose above the psychologically key 8,000 level in early trade.
