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Australian Share Market Lifted Amid Potential Chinese Stimulus

Australian Share Market Lifted Amid Potential Chinese Stimulus
Mar 31, 2015 By Wise-owl

The ASX was up 45.4pts, or .8 per cent, at 5891.5pts on Tuesday. Australian shares advanced on talks of a Chinese stimulus plan taking effect. The Chinese government said it had enough room to enact monetary policies if they are required, easing some investor’s concerns over a Chinese slowdown. International markets looked positive across the board. The Dow Jones advanced 1.49 per cent while the S&P500 advanced 1.22 per cent. The DAX was up 1.83 per cent while the FTSE 100 was up .53 per cent. Although the Nikkei 225 was up .65 per cent in the previous trading day, Japanese shares are trading lower near the end of market hours on Tuesday.

Touchcorp Limited (ASX:TCH) was up 18c, or 12.9 per cent, at $1.58 per share. The Bermudian based software company had a strong debut on the ASX on Tuesday. Touchcorp offers cloud-based payment technologies for merchants in Australia and Europe.

OtherLevels Holdings (ASX:OLV) was up 3.5c, or 17.5 per cent, at 23.5c per share. The US based start-up also had a strong day on the ASX on Tuesday. OtherLevels raised $7.5m in funding for its debut on the ASX and posted strong revenue in the last half of 2014.

Treasury Wine Estates (ASX:TWE) was down 4c, or .78 per cent, at $5.12 per share. The wine company announced plans to close operations in both the US and Australia in order to cut down on costs and to focus on less products.

BHP Billiton (ASX:BHP) was up 93c, or 3.09 per cent, at $31.03 per share. Shares of BHP have partially recovered on Tuesday after a recent slumped earlier this month. There is an ongoing debate over iron ore oversupply.

Australia and New Zealand Banking Group (ASX:ANZ) was up 28c, or .77 per cent, at $36.64 per share. ANZ led the gains of the four major Australian banks on Tuesday. Although banking shares were temporarily set back last week, the major banking institutions continue their upward trends.

 

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Wise-owl Author: Wise-owl Mar 31, 2015

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China continues its onslaught as it targets the wine industry

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