Australian Stocks: What Happened Today?

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    [0] => Array
        (
            [0] => ((CBA))
            [1] => ((ANZ))
            [2] => ((NAB))
            [3] => ((QAN))
        )

    [1] => Array
        (
            [0] => CBA
            [1] => ANZ
            [2] => NAB
            [3] => QAN
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)

This story features COMMONWEALTH BANK OF AUSTRALIA, and other companies.
For more info SHARE ANALYSIS: CBA
The company is included in ASX20, ASX50, ASX100, ASX200, ASX300 and ALL-ORDS

Download related file: afternoon_report_2013-04-05

The analyst principally responsible for the production of this research report is: Howard Humphreys, Director & Lead Research Analyst, Seismic Research

Japan bucks the trend on BOJ as Asian markets fall

Japanese stocks rallied today with the Nikkei-225 extending a three-day surge to almost 10% on the back of yesterday's policy statement, where the Bank of Japan said it will expand the nation's monetary base by 7 trillion yen (~US$74 billion) per month. The yield on Japan's 10-year notes fell to a record-low of 0.315% as the yen dropped as much as 0.9% to 97.19 per dollar, its weakest level since August 2009.

On the local market, financials slumped 1% after the Federal government announced plans to curb tax concessions for wealthy Australians superannuation (total super over A$2 million). Commonwealth Bank of Australia ((CBA)) Australia & New Zealand Banking Group ((ANZ)) and National Australia Bank ((NAB)) closed 1.7%, 1% and 1.4% lower, respectively. Qantas ((QAN)), meanwhile, fell along with other Asian airlines after news reports of six people dying in China from an outbreak of bird flu.

To read today's report in PDF in full, see link at the top of this story.

(For a more comprehensive summary of last night’s market action see FNArena’s Overnight Report.)

Analyst Certification: Any views expressed in this research report by Seismic Research Solutions Pty Ltd (‘Seismic Research’) accurately reflect the personal views of the analyst(s) about the subject securities or issuers and no part of the compensation of the analyst(s) was, is, or will be directly or indirectly related to the inclusion of specific recommendations or views in this research. The analyst principally responsible for the preparation of this research report receives compensation based on overall revenues of Seismic Research and has taken reasonable care to achieve and maintain independence and objectivity in making any recommendations.

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