DAX Back Up After the Great Movement of Yesterday

DAX opened gap up at 9973.0 and rose Wednesday, after yesterday's correction rose significantly although still closed near the low level this year. High 10185.5 noted yesterday, before re-closed at 9823.0.

Asian stocks fell early in the session Wednesday as investors worried about the latest action of the central bank's rate cut will not be sufficient to stabilize China's economy is slowing or stopping its stock market collapse.

China's main stock exchange had tried several times higher in early trading session but again depressed by selling, reflecting investors' view that it still needs more support from governments and central banks.

Following the weakening of almost 20% in 3 days on stock prices, the People's Bank of China (PBOC) cut interest rates at the end of Tuesday and lowered reserve bank guarantee as a precaution were deemed too late by economists.

Although the dual policy gets cheers from market participants at first, but its impact does not last as investors quickly returned to continue their focus on China and the world economic slowdown.


Bearish Trend.

Res: 10254.0 - 10475.5 - 10750.0
Supp: 9758.0 - 9315.0 - 8872.0