Australian shares close sharply higher, breaking 5-day losing streak |
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Published
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Tue, 06 Mar 2007 06:39
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SYDNEY (XFN-ASIA) - Share prices closed sharply higher as investor sentiment rebounded on bargain hunting which reversed part of the sell-off that began with the correction in the Chinese sharemarket last Tuesday, dealers said.They said sentiment was helped by the gains in other Asian equity markets today while further gains will depend on the direction of US shares and commodity prices ahead.The S&P/ASX 200 closed up 118.2 points or 2.09 pct at the day's high of 5,771.8, gaining back part of the fall from the record close of 6,044.0 set on Feb 26.The broader All Ordinaries index jumped 107.5 points or 1.91 pct to close at the day's high of 5,749.9, also reducing some of the correction from the record close of 6,021.9 set on Feb 26.Dealers said BHP Billiton and Rio Tinto advanced after recent heavy falls despite base metal prices retreating further in overnight trade.But building products group James Hardie Industries tumbled after its net profit for the nine months to December plunged 67 pct from a year earlier to 47.7 mln usd as it made adjustments to provisions for claims by asbestosis disease victims.(1 usd = 1.29 aud)paul.daniel@xfn.com
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| Stock
Quotes * |
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NASDAQ
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2792.28 |
22.57 (
0.81 %)
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| SYMBOL (
2012-01-19 ) |
| LAST |
CHANGE
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CARNIVAL
(
11:35am )
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2017.00 |
46.00 (
2.42 %)
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WHITBREAD
(
11:35am )
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1662.99 |
33.99 (
2.09 %)
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| SYMBOL (
2012-01-19 )
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| LAST |
CHANGE
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IBM
(
12:34pm ) |
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181.50 |
0.43 (
0.24 %)
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| SYMBOL (
2012-01-19 )
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CHANGE
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Hong Kong shares close sharply higher, rebounding after DJIA record finish 