MARKET TALK: S&P/ASX 200 Bounces On Yuan Appreciation

22nd Jun 2010 02:35

0135 GMT [Dow Jones] S&P/ASX 200 down 0.3% at 4597.0, up from 4582.0 as AUD/USD spikes to 0.8832 from 0.8767 after China set USD/CNY central parity at 6.7980 vs 6.8275 Monday, down 0.43% and the lowest central parity in the modern era. BHP (BHP.AU) has turned up 0.3% to A$40.04 from A$39.56 low and Rio (RIO.AU) is up 0.4% at A$72.60 from A$71.64 low. Other cyclicals also bouncing, with News Corp (NWS.AU) (owner of Dow Jones Newswires) at A$18.05 from A$17.95 low. With Asian share markets likely to react positively to yuan appreciation, S&P/ASX 200 might now close in positive territory. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires June 21, 2010 21:35 ET (01:35 GMT)