The Chinese stimulus was welcomed by the market, but is it enough to lift the Asian superpower out of its ongoing slump?

MARKET WRAP:

• ASX200: up 0.47%, 8,252
• GOLD: $2,677 US/oz
• BITCOIN: $94,864 AUD

• The sectors were mixed, but it was the Materials sector that was the standout, up 1.3%.
• The iron ore price again lifted, back up to around $108 US dollars a tonne in Singapore Futures trading.
• That helped the local miners, with BHP up 0.9%, Fortescue up 2.8% and Rio Tinto up 1.2%.
• It was also a good day for Health Care stocks, with gains for CSL, Resmed and Telix Pharmaceuticals.
• A $45 million offer for human resources company Xref by jobs platform Seek helped Seek’s shares up by 1% to $25.24.
• And the banks were strong, with the Big Four and Macquarie all finishing green.
• It wasn’t such a good day for newly demerged Web Travel Group, which fell more than 35% to $4.53.
• While there were falls across the tech companies, with Wisetech Global, NEXT DC and Technology One all down.

CURRENCY UPDATE:

• AUD/USD: 67.35 US cents
• AUD/GBP: 51.5 pence
• AUD/EUR: 61 Euro cents
• AUD/JPY: 100 Japanese yen
• AUD/NZD: 1.10 NZ dollars