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AUSTRALIAN SHARES LIKELY TO START YEAR ON SLUGGISH NOTE.
SYDNEY, Jan 2 Asia Pulse - Australian shares are likely to kick off 2003 in much the same the way as they ended 2002 - with sluggish, uninspired trade amid dull global sentiment.
After a holiday across the world's markets today, the Australian Stock Exchange will resume trading this morning.
Local shares are likely to take their lead from international stocks and begin the year slowly and carefully, after the bourse finished 2002 on a lacklustre note on December 31, closing slightly firmer but down overall for the year.
Analysts said undervalued stocks and low interest rates would hopefully lure investors into the local market and fuel a turnaround in 2003.
"Over the next month or two it will start to firm, even before we get serious into the new year," predicted Ausbil Dexia chief investment officer Michael Wilson.
However the market is unlikely to attempt such a turnaround in the first week or two of January.
More likely, investors will wait for the bulk of interim company results, posted over February and March, before making any significant moves.
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- News wire article from: Asia Africa Intelligence Wire December 3, 2004 700+ words
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- News wire article from: Asia Africa Intelligence Wire April 20, 2004 700+ words
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- News wire article from: Asia Africa Intelligence Wire April 21, 2004 700+ words
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- News wire article from: Asia Africa Intelligence Wire February 7, 2005 700+ words
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- STOCKS - AUSTRALIAN SHARES LOWER AT NOON - MARCH 15, 2005.
- News wire article from: Asia Africa Intelligence Wire March 15, 2005 700+ words
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Source: HighBeam Research, AUSTRALIAN SHARES LIKELY TO START YEAR ON SLUGGISH NOTE.