Australian Market Surges On Wall Street Rally, Stronger Base Metal Prices []

Australian Market Surges On Wall Street Rally, Stronger Base Metal Prices []
Thursday, Sydney shares were sharply higher, tracking the surge on Wall Street after a Federal Reserve official hinted that the central bank may cut interest rates again next month. At 11:27 a.m. local time, the benchmark S&P/ASX 200 was up 100.1 points or 1.6% at 6,470.2 and the broader All Ordinaries index was gaining 96.9 points or 1.5% to 6,529.7.

Global Insight: Economy And Financial Markets Crying Out For Rate Cut []
Nigel Gault, US economist for Global Insight, wrote on Thursday that all incoming evidence suggests that the stellar 4.9% growth rate in the third quarter may have been the last hurrah for the expansion. He said that housing activity continues to plunge, consumer spending growth is slowing, and business investment also seems to be faltering based on yesterday's durable goods orders.

South Korean Market Rises Tracking Wall Street Gains []
Seoul shares rebounded Thursday on the back of sharp gains on Wall Street. Growing hopes of another interest rate cut in the U.S. and a significant pullback in oil prices boosted investor sentiment.