Australian shares rise in early trading

greenback

Seems that the last hour crash is not impacting Asia for some reason ...

SYDNEY (MarketWatch) -- Australian stocks rose in early trading Thursday, with broad-based gains tracking positive offshore leads. The benchmark S&P/ASX 200 climbed 1.0% to 4,244.40. Resource firms were among the best performers, with iron-ore producer Fortescue Metals Group rising 3.6% and Rio Tinto Ltd. advancing 1.7%. Some media stocks posted solid gains, with Fairfax Media Ltd. up 3.7% and Seven West Media Ltd. putting on 3.2%. Shares in airline Virgin Australia gained 1.6% after reports that Australia's competition regulator intends to approve a proposed alliance between the carrier and Singapore Airlines Ltd.

csw2002

Not really true. The higher prices are simply a reflection of the move higher in the US overnight. It has fallen off steadily during the day since 10:45AM AEDT and until it bottomed out on support at 4210 at 12:45PM.