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http://www.smh.com.au/business/m ... 20130710-2poxk.html
Australian shares rose, pulling back from a stronger start after disappointing Chinese trade data raised fresh concerns about slowing growth in the world's second-biggest economy.
The index ended in positive territory as investors raised the odds for a rate cut by the Reserve Bank of Australia in August, after the International Monetary Fund trimmed its global growth forecast, analysts said.
At the close on Wednesday, the benchmark S&P/ASX200 index was 19.7 points, or 0.4 per cent, higher at 4,901.4. The broader All Ordinaries index was up 18.9 points, or 0.39 per cent, at 4,885.4.
Data from China showed exports unexpectedly fell 3.1 per cents, while imports fell 0.7 per cent in June, suggesting a further slowdown in the Asian economic giant on the back of global weakness.
Read more: http://www.smh.com.au/business/m ... .html#ixzz2YdZVDIY1 |
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