The ASX had a mysterious spike in the middle of Wednesday afternoon’s trade.
For most of the day, the ASX 200 index ran below Tuesday’s close by around 0.48%.
The softer market also saw lighter than usual trade.
However, the ASX 200 reversed direction in the late afternoon, jumping into positive territory.
The move coincided with a 0.75% rally in Shanghai and news reports that treasury secretary John Fraser was telling a Senate hearing: “Things have been picking up somewhat. It’s been happening for the last couple of months or so.”
No other catalyst for the jump could be found.