Quay Mid-Day Market Update

The Australian Share Market with a complete role reversal to yesterday’s trade, with the market pushing higher on the back of positive leads from offshore markets which were boosted by optimism of further stimulus in China while merger and acquisition action pushed Wall Street higher. Given a short week and a lack of market moving economic data, Market Turnover was decent at $1.627 billion The market has run very hard this morning, look for a few profits to be taken off the table this afternoon, particularly given it is end of quarter so there could be some book squaring. Later in the day look out for data out of Japan. Data to be released includes Labour /Real Cash Earnings, Vehicle Production, Housing Starts, Annualized Housing Starts and Construction Orders. Not likely to move our local market though. This morning we had the ANZ/Roy Morgan Weekly consumer confidence data..... For the entire wrap please visit (VIEW LINK)