Reuters: Hot Stocks: Australia shares rebound on US data, China liquidity assurance

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Australia shares rebound on US data, China liquidity assurance Jun 26th 2013, 06:23 Wed Jun 26, 2013 2:23am EDT SYDNEY, June 26 (Reuters) - Australian shares snapped a four-day decline and rose 1.6 percent on Wednesday, after Wall Street rallied on improved investment and housing data and China's central bank moved to calm fears about a credit crunch. The People's Bank of China (PBOC) said late on Tuesday it had helped some banks and was ready to act again as the lender of last resort for those caught in a short-term squeeze. But concerns over slower growth in China and political uncertainty in Canberra continued to hold Australian investors back, pulling the index off an intra-day high. The S&P/ASX 200 index added 75.7 points to 4.731.7, with both banks and miners bouncing back on short-covering. The index fell 0.3 percent on Tuesday. Australian stocks have been hit hard in recent sessions by concerns about the U.S. Federal Reserve's plan to reduce its massive stimulus, with China's recent credit crunch adding to investor fears. New Zealand's benchmark NZX 50 index jumped 1.8 percent to 4,393.6.

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