Market Update: The S&P/ASX200 traded much higher today, up 0.9% to 5,300 points, as very strong Chinese trade data surprised the market

Market Update: The S&P/ASX200 traded much higher today, up 0.9% to 5,300 points, as very strong Chinese trade data surprised the market. Apart from that, profit results were released by 15 large listed companies. Among them, OZ Minerals gained 12.7% after delivering a smaller than expected half year loss. The defensive healthcare sector was the worst performer due to the CSL downgrading its 2014 guidance of net profit. CSL down 3.3% to $67.56. Major mining companies performed well with RIO up 2.0% and BHP rose 1.6%. In other news, New Federal Reserve chairman, Janet Yellen, delivered her first testimony and emphasised continuity in the Federal's current policy strategy to continue tapering. The AUD is currently trading at USD 0.9053. The SPI was up 1.0% at 5,254 points on the Sydney Futures Exchange.