Australia shares bounce back on bargain-hunting, stimulus hopes [Reuters]
Westpac Banking Corporation (WBK)
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Source: Reuters
Australia shares bounce back on bargain-hunting, stimulus hopes * Benchmark index posts biggest gain in over 3 years * PM Morrison says govt to announce stimulus soon * Top lender CBA snaps 11-day losing streak, up 6% * NZ benchmark index hits near 4-month closing low (Updates to close) March 10 (Reuters) - Australian shares bounced back from 14-month lows on Tuesday and logged their biggest gain in more than three years, as investors went bargain-hunting and hopes for global stimulus eased worries about the economic fallout from the coronavirus outbreak. The S&P/ASX 200 index settled 3.1% higher at 5,939.60 after falling nearly 4% earlier in the session. It dropped 7.3% on Monday in its worst drop since the global financial crisis in 2008. Henry Jennings, a senior analyst and portfolio manager at Marcustoday Financial Newsletter, said there was a little bit of bargain hunting and people were happy to breathe a sigh of relief after Monday’s sharp sell-off. Boosting investor sentiment,
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