Australia's three-day days in a row, rallied strongly today (Tuesday), closing with their biggest gains in 10 weeks since April 6, while the Fed's massive purchases of corporate bonds and massive cash injections into global financial markets were the main driving force behind the rally.
After jumping 3% in the eight-minute opening this morning, most trading times continued to climb until a few minutes before closing, with the S & P/A 200 up 222.5, or 3.89%, at 5,942.3. The Australian Composite Index also rose 228.1, or 3.91 percent, to close at 6,058.1.
The Australian dollar swept through the last few days as a risky buying spree jumped from 67.88 cents to 69.41 cents in the local currency market.
"This is a great day ," said Jessica Amir, market analyst at Bell Direct Securities. "It was a glorious day for the market, rising for the first time in four trading days. "
After the Federal Reserve announced overnight that it had bought large amounts of private corporate bonds and injected large amounts of money to help economic, the latest round of measures to support companies during the new-crown pneumonia epidemic, Wall Street stocks were up.
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Australia's energy stocks, which led the long-term decline in the local market, jumped 5.8 percent today, while the technology sector rose 5.7 percent and non-essential consumer stocks rose 5.1 percent.
All four banks closed higher, with ANZ up 4.5 percent to 19.23 yuan. The Federal Bank rose 4.2 percent to 69.09 yuan. Bank of China (NAB) up 4.1%, to 18.85 yuan. West Pacific Bank (Westpac) also rose 4.1% to $18.09.
First buy and then pay financial technology companies Afterpay rose 10.5 percent to 56.52 yuan, a record share price. The stock has soared 93% this year, nearly doubling its share price.
After the refinery Viva Energy announced it would buy back 50 million yuan in the next few days as part of its plan to buy back 680 million yuan, its share price soared 15.5 percent to 1.755 yuan.
Among the three major energy stocks, Woodside rose 3.9 percent to 21.47 yuan. Santos jumped 5% to 5.45 yuan. Oil Search soared 8.6 percent to 3.42 yuan.
