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Australian shares rise buoyed by mining stocks; NZ up

From reuters.com

Australian shares gained on Wednesday buoyed by mining stocks, as China’s stimulus plans and supply crunch concerns in some commodities drove gains in iron ore, coal and base metal prices. The S&P/ASX 200 index advanced 0.3% or 16.1 points to 6,562.0 by 0201 GMT. The benchmark gained 1.6% on Tuesday and is set for a sixth straight day of gains. China on Monday said it would allow local governments to use proceeds from special bonds as capital for major investment projects, in a bid to shore up the slowing economy amid an escalating trade war with the United States. China is a major importer of Australian raw ... (full story)

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  • Category: Fundamental Analysis