The ASX200 saw early loses erased to trade up 1.2%. Bhp is flat from early loses and RIO is up 1.8%. The banking sector as a whole is up, with WBC the best of them, up 2%.
FMG(Fortescue Metals) gained another 8%, on hopes for a strategic investor. There is apparently unconfirmed talks that China’s Hunan Valin Iron & Steel, who are looking to buy a stack.
Once again the gold stocks were higher on the back of higher gold prices.
The big loser on the day is TEN, losing 22%, to an all time low, after saying that it wont be going ahead with the proposed equity raising.
In Tokyo the Nikkei is up 0.3% down from early morning gains. Semiconductor stocks fell, after data showed global orders for Japanese semiconductor manufacturing equipment fell 80% in Jan from a year earlier. The main gainers on the day are the exporters such as Honda and Toyota, both up over 1.5%.
The Kopsi is down 0.6%.