S&P/ASX 200 (INDEXASX:XJO) raced out of the open this morning to a high of 6,206.9 before cooling off to be up 15.6 or 0.3% higher at 6,191.7 at 12.45pm.
Both the S&P 500 Index (INDEXSP:.INX) and the Nasdaq Composite (INDEXNASDAQ:.IXIC) finished higher overnight.
Morgan Stanley says Bank of Queensland might cut dividend
Seemingly, the opinion has been enough for some investors positioned in the stock for yield purposes to sell out with shares down 10 cents on the day to $9.13.
Private sector credit numbers beat expectations
The Reserve Bank of Australian released its monthly private sector credit numbers today at 11.30am which beat expectations slightly.
The data point measures the change in the total value of new credit issued to consumers and businesses.
Today's figures of +0.3% was slightly ahead of economist's predictions of +0.2%.
Borrowing and spending are positively correlated, so the fact that private sector credit is still growing is seen as bullish for the Australian economy.
Mid-Session 29 Mar 19: ASX 200 post solid advance on the final day of the month and the quarter pic.twitter.com/WuMW8rDBGQ— CommSec (@CommSec) March 29, 2019