SYDNEY: The Australian stocks edged higher in early trade on the back of strong gains on Wall Street overnight, despite continued weakness in resources stocks.
At the 10.15am (AEDT) official market open, the benchmark S & P/ASX200 index added 14.6 points, or 0.25 per cent, to 5,835.9 points, while the broader All Ordinaries index gained 13.7 points, or 0.24 per cent, to 5,806.7 points.
CMC chief market strategist Michael McCarthy noted that US shares rose as Apple reminded US investors of the importance of technological innovation to profitability, while the European Central Bank launched its QE bond buying program.
“This positive momentum is likely to lift Asia Pacific shares early in the trading session, but mixed messages from commodity markets and weakness in European shares may keep enthusiasm in check,” he said.
