The S&P/ASX200 closed up Thursday, gaining 73 points or one per cent to 7,370, the US Federal Reserve offered a measured description of the taper to come

The S&P/ASX200 closed up Thursday, gaining 73 points or one per cent to 7,370, the US Federal Reserve offered a measured description of the taper to come. Wall Street rallied as did China's slow-motion trainwreck, Evergrande. In Hong Kong, shares in the property developer jumped over 20%. That doesn't erase the US$300 billion of debt, it won't cover the 80% shed since January and the company's fate remains the best cautionary tale for China's official narrators. On the local index energy, tech and bank stocks drove gains while a buying-back News Corp (NWS) led the boards, gaining 8.4%. Washington H. Soul Pattinson (SOL) the other rock star on Thursday. Brickworks (BXW), New Hope (NHC) and a bunch of other sensible investments driving a year full of revenue. Soul Patts' shares climbing 6%. To Friday, and victory.


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