AMC Amcor PLC

0006 GMT [Dow Jones] Australia's S&P/ASX 200 is up 1.5% at 5083.1 as high-yield and defensive stocks surge after Fed Vice Chair Yellen reiterated commitment to U.S. quantitative easing overnight. After steep declines Monday as China's share market dived on increased curbs on property speculation, major banks are up 2.1%-2.7%, Woolworths (WOW.AU) jumps 2.8%, CSL (CSL.AU) gains 0.3% ex-dividend and AMP (AMP.AU) surges 2.3% after trading ex-dividend Monday. Defensive standouts include Amcor (AMC.AU), up 3.4%, while in the oil sector Woodside (WPL.AU) jumps 2.1%. BHP (BHP.AU), Rio Tinto (RIO.AU) and Fortescue (FMG.AU) fall 0.1%-0.9% after spot iron ore fell 1.2%. "We are still seeing strong support on dips," says Macquarie Private Wealth investment adviser James Rosenberg. "While there's been no significant upgrade in earnings estimates after reporting season, the downgrades look to be behind us, and that's giving investors a lot of confidence." He expects a bounce in China's share market after Monday's 3.7% fall. "It was a huge overreaction (Monday) to news that has been around for some time." david.rogers1@wsj.com)

 
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