CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
✖

Japan shares gain for sixth straight day miners boost Australian bourse

Article By: ,  Financial Analyst
February 14, 2011 11:11 AM

Asian markets were stronger today with the Hang Seng and Nikkei both up around 1%.

In Japan all sectors were stronger with the Financials sector the standout performer up 2.4%. The gains in Japan marked the sixth straight day of gains for the Index as the country’s gross domestic product shrank less than expected and after Egyptian President Hosni Mubarek resigned. Toyota Motor Corp jumped 2.3%% after the company announced it will streamline its management.

It was a similar story in Hong Kong with all sectors in the black. Speculation that inflation may slow China and ease the need for further monetary policy tightening gave stocks a reason to rise. Great Wall, a Chinese automaker, surged 7.3%. Anhui Conch Cement Co, China’s biggest cement maker, rallied 5.5%.

In Australia, materials and energy stocks took charge and led the local market higher today.

Investors are holding on to their long positions on miners and some are still buying into the big blue chip shares. The market is pretty buoyant – very strong overall.

Now that the Egyptian situation had been resolved (on the weekend), it seems like investors are quite keen to get back into the market. Optimism is coming back.

Commodity prices are still up. They’ve been up for the past few days already and this is translating into higher prices for local miners.

At the same time we saw a lot of buying into bank shares. The Commonwealth Bank of Australia (CBA) was the highest traded share today followed by BHP Billiton and RIO Tinto. Investors must be encouraged by the fantastic performance of these blue chip stocks including CBA and Rio Tinto (which reported healthy profit figures last week).

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024