Australian Market Report of May 28: Economic Outlook Dented by US Debt

  Sydney, Australia, May 28, 2009 - (ABN Newswire) - US stocks tumbled overnight as a sharp rise in the 10-year US Treasury bond yield fuelled concern over the economic outlook. The market was also weighed down by the news General Motors was moving further towards bankruptcy.The Australian share market yesterday closed slightly higher with a good lead from Wall Street. The benchmark S & amp;P/ASX200 index gained 12.7 points, or 0.3 per cent, at 3801.  

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