Australian Shares Trade Higher on Central Banker Comments
By Market News Video Staff, Friday, November 26, 9:01 AM ET
Australian stocks moved higher Friday after comments from Glenn Stevens, head of Australia’s Reserve Bank. Stevens said inflation will stay consistent over the next year, although there is greater risk of inflation running too high rather than too low. Stevens believes monetary policy is correct for the current situation.
The iShares MSCI Australia Index Fund (AMEX:EWA) should open lower this morning, despite the positive remarks by Stevens.
BHP Billiton (NYSE:BHP) is the top stock in the fund at 15.11%. Other top holdings with U.S. listings include Westpac Banking (NYSE:WBK) at 7.26% of the fund, and Rio Tinto (NYSE:RIO) at 3.87%. For a full list of holdings, see the EWA Holdings page.
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