CANBERRA: The Australian sharemarket has finished the second trading day of the year up slightly, due to thin volumes thanks to many traders enjoying holidays, leaving the bourse with a lack of conviction to move.
The benchmark S&P/ASX 200 Index added 14.4 points, or 0.3 per cent, to 5450.3, while the broader All Ordinaries Index gained 14.5 points, or 0.3 per cent to 5429.5.The volumes aren’t there, the bid offers are pretty light. We saw the market open negatively, which was a little bit of a surprise because Wall Street did pretty much nothing on Friday,” said Quay Equities head of trading Tristan K’Nell.Realistically, you’re probably not going to see any real action until the middle of the month, when everyone comes back from holidays and fund managers have a look at their portfolios again,” Mr K’Nell said.
