Aust stocks close higher after system bug
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The Australian stock exchange has closed higher after a lift in business conditions, buying in financials, and a brief trading glitch.
At the 1615 AEDT official market close, the benchmark S&P/ASX200 index lifted 0.62% to 5,254.5 points, while the broader All Ordinaries index rose 0.59% to 5,267.3 points.
The bourse lifted after a NAB survey showed business conditions lifted in January and were close to three-year highs due to low interest rates and the falling Australian dollar.
In earnings news, ANZ posted a strong lift in first-quarter cash profit, which IG chief market strategist Chris Weston said featured strong asset quality and cost growth below forecasts.
"Naturally the market took this that Commonwealth Bank will report fairly good numbers in tomorrow's earnings report and you know when the financial sector puts on 1.2% the broader market is going to do nicely," Mr Weston said.
"Macquarie Group is the exception to the rule despite coming out with an update which was in-line with expectations, although it seems given the current valuation that it needs to do better than that and really has to impress."
The market was placed into enquire at 1415 AEDT as the ASX reported problems with its system, meaning no trades could take place but the trading platform remained available for enquiries.
It was scheduled to be placed into pre-open at 1435 AEDT and open between 1445 AEDT and 1457 AEDT.
Some participant and vendor applications were not displaying accurate market data for some securities, Bloomberg reported.
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