Off the wire
• Roundup: Nine dead, scores injured in wake of powerful quake in southwestern Japan  • Xinhua world news summary at 0030 GMT, April 15  • China,Australia make world first partnership to create innovation hub  • 2nd LD Writethru: DPRK's attempt to launch ballistic missile appears to have failed: Seoul  • Tokyo stocks open lower on profit taking, markets unaffected by overnight quakes  • Dollar changes hands in lower 109 yen range in early trade in Tokyo  • 1st LD Writethru: DPRK unsuccessfully seeks to launch ballistic missile  • Rio 2016 puts one million tickets on sale  • WTA Bogota Open results  • Mexico in the same group as Germany at Rio 2016  
You are here: 　 Home

Aussie stocks take cautious start ahead of key data

Xinhua, April 15, 2016 Adjust font size:

Australian stocks had a slow start on Friday as traders skim profit following the week's strong rally.

At the 1015 (AEST) official market open, the benchmark S&P/ASX200 index was up 9.3 points, or 0.18 per cent, to 5127.9, while the broader All Ordinaries index added 8.4 points, or 0.16 per cent, to 5196.1.

Markets are taking a slight pause ahead of Chinese economic data release and the impending Doha meeting of OPEC oil producers, IG market analyst Angus Nicholson said, with traders taking profits despite the upside risk in the commodity complex.

"There are a lot who doubt the current market rally at the moment," Nicholson said.

But "given the massive pickup in China's activity indicators," solid numbers in China's data dump will provide short-term upside in commodities, Nicholson said, which would spur buying in miners.

However, in early trade, BHP was down 0.53 percent, rival Rio Tinto fell 1.40 percent and gold miner Newcrest lost 1.88 percent.

Oil Search fell 0.90 percent, Santos dropped 1.20 percent and Woodside Petroleum was 1.13 percent weaker as benchmark crude paused ahead of the Doha meeting.

Holding the market up, ANZ added 0.72 percent, the Commonwealth Bank of Australia rose 0.40 percent, the National Australia Bank was 0.45 percent higher and Westpac had gained 0.75 percent.

Wesfarmers and Woolworths were 0.59 and 0.64 percent stronger respectively.

Qantas opened flat while Telstra edged 0.39 percent higher.

Endit