Aust stocks open higher

Local market pushes more than 0.5% higher as Wall St lifts on China data.

The Australian stock market opened more than 0.5% higher after Wall Street again made marked gains on strong Chinese economic data and greater confidence the US may not launch a strike on Syria.

At the 1015 AEST official market open, the benchmark S&P/ASX200 index gained 0.59%, to 5,231.8 points, while the broader All Ordinaries index rose 0.55% to 5,227.4 points.

In economic news on Wednesday, the Australian Bureau of Statistics (ABS) releases lending finance data for July, while the Westpac/Melbourne Institute Survey of Consumer Sentiment is also due out.

No major equities news is expected.

In Australia, the market on Tuesday approached its highest point for the year as investor confidence is boosted by a decisive federal election result and encouraging Chinese economic data.

The benchmark S&P/ASX200 index gained 19.7 points, or 0.38%, to 5,201.2 points.

The broader All Ordinaries index added 19.5 points, or 0.38%, to 5,198.9 points.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles