The ASX200 index sunk to an 11-month low, shedding 53.2 points or 0.7% to 6,890.2. Global treasury yields keep rising; economic data remains positive, giving the reserve bank ammunition to continue the rate hike cycle.
The ASX200 fell below the 7,000 mark for the first time since March this year, closing the day down 89.8 points or 1.28% to 6,943.4
A quieter trading session with lower trading volume on the market as NSW and QLD enjoyed their respective public holidays. The ASX200 index ended the session 15.4 points lower.
Today, it was the Materials (+1.2%) sector that led the way for the ASX200 index, which finished 23.8 points or 0.38% higher to 7,048.6.
Energy stocks were the only spark that lit up markets during morning trade, but it wasn’t enough to drag the index higher as the ASX200 finished Thursday 5.5 points lower to 7,024.80.
The ASX200 finished lower, but the damage wasn’t as bad as expected after a night of sharp losses on Wall Street that saw all three key indexes lose over 1%. The ASX200 didn’t fare as badly, dropping only 7.9 points or 0.1% to 7,030.3.
The ASX200 index fell by 38.3pts. today to 7,038.2, despite the positive lead overnight from Wall Street. Nine of the 11 sectors fell, with Tech (-1.9%) and Materials (-1.7%) the biggest laggards.
The ASX200 went against the grain as Asian markets retreated on Monday amid renewed concerns over China’s Real Estate sector.
A volatile day on the market as the ASX200 index fell by almost 100 points in the morning, dropping below the 7,000 mark. Before clawing back the lost ground to the end session up 3.6 pts or 0.05% to 7,068.80.
The ASX200 index fell for the fourth straight day, shedding another 98.1pts or 1.37% to close at 7,065.20
QANTAS remains in the news after paying former CEO Alan Joyce a $21.4 million salary in FY23 but withholding a portion pending the finalisation of its ACCC case.
Materials had another cracking session, with the sector rising 2.5% today, stemming from positive Chinese economic data that dropped today, which showed strong retail sales and higher industrial output.
