Markets

ASX tipped for further gains at the open

Written by The ReReport
As seen in the Source link, written by dailytelegraph.com.au on 2019-05-22 08:23:24

The Australian share market is expected to build on its fresh 11-and-a-half year high after a temporary US licensing reprieve for Chinese telco Huawei gave Wall Street an overnight boost.The SPI200 futures contract was up 13 points, or 0.2 per cent, at 6,580.0 at 0700 AEST, suggesting another rise for the S&P/ASX200 at Wednesday’s open after the benchmark hit heights not seen since November 2007 during the previous session.The tech-heavy NASDAQ was the best performing Wall Street index overnight following a move by the US to grant Huawei a license to buy US goods until August 19, offering a reprieve to shares of chipmakers.The Aussie dollar is buying 68.83 US cents from 68.79 US cents on Tuesday.Originally published as ASX tipped for further gains