CORRECT:MARKET TALK: S&P/ASX 200 Pares Losses On China GDP

15th Jul 2010 04:24

0324 GMT [Dow Jones] (An item at 0227 GMT misstated the expectations for China's 1Q GDP data and mischaracterized the industrial production data. A correct version follows:) S&P/ASX 200 turns up a point at 4463.4 after paring intraday fall to 4427.1. Index rose from 4440 level after China's 1H GDP came in 11.1%, implying robust economic growth, though industrial production growth came in at 13.7%, slower than 14.9% expected. In resources, BHP (BHP.AU) down 0.3% at A$38.30 from A$37.91 low, Rio Tinto (RIO.AU) down 0.1% at A$67.32 from A$66.37, while in banks, CBA (CBA.AU) up 3 cents at A$51.52 from A$51.05 and Westpac (WBC.AU) flat at A$22.98 from A$22.70 low. Sustained rate of resistance from Wednesday's high and downtrend line from April, at 4462, would target 4490, then 4622. Support remains at 4427.0. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires July 14, 2010 23:24 ET (03:24 GMT)