Indices: Australian ASX 200
The ASX200 experienced a choppy Wednesday but some healthy buying into the close finally saw the index enjoy a gain of +0.3%. Stock & sector rotation was yet again the main game in town with 10% of the main board falling by over -5% while 7 names were hammered by more than -10%, however the influential banks recovered some of their recent losses which when combined with advances by the major iron ore producers…
The ASX200 was sold off over 1% yesterday in classic “two steps forward – one step back” fashion i.e. after basically rallying from 7100 to 7300 in just 2-days we’re back at 7200, the middle of the last 12-months trading range. The banks weighed on the index on Tuesday with the “Big Four” falling an average of 2% while the Tech Sector was back under pressure falling -1.9% however losses were fairly…
