ASX hits one-week high ahead of Fed meeting

The Australian sharemarket closed at session highs on Wednesday, delivering a resilient and surprising performance given a weak lead from Wall Street and a multitude of risk events over coming days.

The benchmark S&P/ASX 200 rose 45.7 points, or 0.7 per cent, to 6752.6, closing at its highest level since December 2.

There was plenty of green on screens on Wednesday.Credit:Tamara Voninski

After posting gains of 0.3 per cent in early trade, the index ground higher throughout the session, brushing aside remarks from White House trade adviser Peter Navarro that he’s received “no indication” that planned tariff hikes on Chinese imports scheduled for December 15 won’t go ahead.

“The story backs up similar language from Donald Trump’s economic advisor, Larry Kudlow, on Tuesday, who also affirmed that there’s been no decision yet to delay the next round of tariffs,” IG Markets analyst Kyle Rodda told clients.


Related posts

Make a comment