Australia shares end higher on stimulus hopes, NZ falls as power firms hit [Reuters]
BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP)
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Source: Reuters
Australia shares end higher on stimulus hopes, NZ falls as power firms hit (Updates to close) By Soumyajit Saha July 9 (Reuters) - Australian shares closed higher on Thursday as investors hoped for further stimulus measures to counter the effects of the latest coronavirus-led restrictions, while a drop in power companies dragged the New Zealand market lower. The S&P/ASX 200 index was 0.6% higher at 5,955.5 points at the end of trade. “Yesterday’s bad news is good news in the Australia market today as investors seem to follow the lead of their U.S. peers”, said Michael McCarthy, chief market strategist at CMC Markets. “The overnight rally across asset classes, whether in equities or commodity prices, is driving sentiment today... investors are once again hopeful of further fiscal and monetary stimulus as domestic cases spike.” Over at Wall Street, Nasdaq hit a record closing high on Wednesday with all three major indexes gaining, supported by technology shares as early signs of an econ
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