The Australian market snapped an eight-day losing streak today, encouraged by positive results from the US market overnight. Major gains from the big four banks and supermarket retailers ensured the upward move continued throughout the day, offsetting falls by the mining sector. Most sectors posted positive results, with the exception of materials. The Australian dollar appreciated against most major currencies.

Asian stocks have risen after Chinese trade data cooled concerns over the world's second biggest economy, steadying money and currency markets in Shanghai and Hong Kong.

British shares have risen after better-than-expected trade data from China improved market sentiment, pushing oil and metals prices higher and lifting investors' appetite for shares in mining, oil and gas companies.

US stocks closed lower after intense selling on Wednesday, as investors unloaded consumer-discretionary, financial and health-care stocks. A renewed slump in crude-oil prices added to the negative investor sentiment.

The Australian market looks set to open sharply lower with the SPI Futures down 91 points after Wall Street gave up early gains and fell into the red, and oil struggled to remain the $US30 mark.

Crowe Horwath Australasia Ltd. issued this content on 2016-01-14 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-14 01:33:15 UTC

Original Document: http://www.crowehorwath.net/AU/news/daily-market-summary.aspx