Market Summary for 6 May 2014
Reserve Bank of Australia (RBA) held its interest rate policy and shared a modestly more optimistic outlook for the economy lifted the Australia equities. Australia equities had a mixed lead from offshore after equities in United States rose (paring its intraday loss), while European markets fell due to political tension in Ukraine and slower growth in China.
[Perception: Slower Growth = Less Demand for Commodities. And it was said that Mao Daqing, Vice-Chairman of China's biggest property developer, Vanke Group, expressed his opinion on China property market at a private gathering. "Overall I believe that China has reached its capacity limit for new construction of residential projects," he said. That's right, not slowing growth, but no growth at all.]
At opening, our local benchmark index, STI started trading higher. It was a rather quiet session, forming an inside day bar pattern. ...
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