Australian Market is Building on Early Gains Today

• The Australian market is building on early gains as US Federal Reserve's decision to cut stimulus has boosted the investors' confidence. In morning session, the benchmark S&P/ASX 200 index opened 25.7 points higher at 5121.8 boosted by a rally on Wall Street, while the broader All Ordinaries gained 24.8 points to 5124.1. 

• Among the sectors, materials are rallying 1.2 per cent, financials are up 0.5 per cent and industrials have gained 0.4 per cent.

• The Australian dollar (AUD) traded violently and fell to its lowest levels in more than three years at 88.19 US cents just before the Fed's announcement this morning. It is currently trading at 88.38 US cents.

• Regional markets are also behaving positive on the back of Fed tapering:

• Nikkei: +1.6%
• Hang Seng: +0.7%
• Shanghai: +0.2%
• Taiwan: +0.7%
• South Korea: +0.5%
• Singapore: +0.5%
• New Zealand: +0.5%

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