Indices: Australian ASX 200
Bizarrely it felt like a positive day for the ASX200 on Wednesday even though the index ended the choppy day down -0.5%, most stocks managed to rally but the weakness for the index came from one very specific and influential sector of the market i.e. the heavyweight resources which were hammered following steep declines across commodities markets on Tuesday night as fears…
Yesterday saw the ASX200 eke out a small +0.25% gain following the RBA’s rate hike at 2.30pm – local stocks initially jumped on the news only to fall away in the last hour of trade as investors’ focus quickly switched to a weakening US futures market. By the days end, we had a balanced number of winners and losers with some noticeable buying entering the Tech and Gold Sectors with the former bouncing +1.7%.
