Australian stocks rescued by Asian gains

Business Materials 28 October 2008 09:36 (UTC +04:00)

Australian stocks recovered from early losses Tuesday on positive leads from Japan and Hong Kong, dpa reported.

The ASX 200 ended the day 14 points down at 3,794 after trading in a range of 70 points on very thin volumes.

"It's very typical of a market trying to find a level," Macquarie Private Wealth economist Martin Laycoss said. "Turnover was very weak."

The recovery was also seen in the local currency. The Australian dollar, which was trading at 60 US cents at the start of the day, ended the session at 61 cents.