Afternoon Report Wednesday 10 September 2014
The ASX 200 followed the weak lead from the US markets, closing down 34 points to 5,574.
The weakness continued to derive from the Iron Ore sector (BHP closing down 30c at $35.80 & RIO Tinto (RIO) down 24c at $61.53.
The turnaround was seen late in the session with the resources sector pushing supporting the market in positive territory (e.g. BHP closing up 44c at $36.10 and RIO up 75c at $61.77).
Our regional peers were also weaker, particularly the Hang Seng Futures, currently trading 450 points lower at 24,695 after investors digested China’s Premier, Li speaking ahead of official release of data by the PBOC with a dovish tone in China’s money-supply growth.
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