A strong session on the ASX today, extending gains from the end of last week and bringing the index close to a one-month high. Miners, banks and Technology led the recovery, while Healthcare reached an eight-month high.
The ASX finished the week on a firmer note, extending its recovery after a volatile few sessions. Market breadth improved, with 9 of 11 sectors higher and ~70% of ASX200 stocks finishing in the green.
The ASX finished slightly lower today snapping a four-day winning streak as the market struggled to follow another record session on Wall Street. A majority six of 11 sectors finished higher, though the heavyweight sectors weighed on the bourse overall. Healthcare and Real Estate led the market, while Financials and Materials were the biggest drags.
The ASX moved higher for a third straight session with some confidence returning to the market. The rally was driven by a very different mix of stocks to what we saw on Wall Street overnight, with Real Estate leading despite bond-yields remaining elevated, and Materials also looking strong. Technology was the only significant detractor, failing to mirror the move seen overnight in the US as the tech-focused Nasdaq surged to new all-time highs.
The ASX bounced today following yesterday’s broad-based sell-off with the rebound driven by a recovery in Technology, while nine of the 11 sectors finished higher. The move leaves the index up +0.2% for the week after a volatile few sessions, with the market still looking for confirmation that the recent surge in bond yields and oil prices has potentially peaked.
Today's move was effectively the mirror image of yesterday with the ASX back to its lowest level since June. The market rallied almost 1% yesterday on softer CPI and hopes that the RBA may be close to the end of its tightening cycle, but bond yields reversed higher overnight and quickly put that trade under pressure.
September finished with a much-needed relief rally as softer inflation data this morning and RBA Governor Michele Bullock’s less than hawkish commentary yesterday afternoon triggered a sharp rebound in beaten-up Real Estate, Discretionary and other rate-sensitive stocks.
The ASX ended up notching a decent gain today after a choppy session leading up to the 2:30pm RBA decision. At the sector level, a strong rebound in Technology and Materials helped offset weakness across Energy, Real Estate and Financials ahead of the decision.
The local index bounced strongly this morning, recovering from a three-month low on Friday, poking its head above the 8700 level before giving most of it back through the afternoon. The modest gain was driven by banks and defensives rather than a broad-based recovery and while Financials, Healthcare and Utilities looked solid, higher oil prices and bond yields kept Technology and Materials under pressure ahead of tomorrow's RBA decision.
The ASX finished the week on a firmer note, extending its recovery after a volatile few sessions. Market breadth improved, with 9 of 11 sectors higher and ~70% of ASX200 stocks finishing in the green.
The ASX finished slightly lower today snapping a four-day winning streak as the market struggled to follow another record session on Wall Street. A majority six of 11 sectors finished higher, though the heavyweight sectors weighed on the bourse overall. Healthcare and Real Estate led the market, while Financials and Materials were the biggest drags.
The ASX moved higher for a third straight session with some confidence returning to the market. The rally was driven by a very different mix of stocks to what we saw on Wall Street overnight, with Real Estate leading despite bond-yields remaining elevated, and Materials also looking strong. Technology was the only significant detractor, failing to mirror the move seen overnight in the US as the tech-focused Nasdaq surged to new all-time highs.
The ASX bounced today following yesterday’s broad-based sell-off with the rebound driven by a recovery in Technology, while nine of the 11 sectors finished higher. The move leaves the index up +0.2% for the week after a volatile few sessions, with the market still looking for confirmation that the recent surge in bond yields and oil prices has potentially peaked.
Today's move was effectively the mirror image of yesterday with the ASX back to its lowest level since June. The market rallied almost 1% yesterday on softer CPI and hopes that the RBA may be close to the end of its tightening cycle, but bond yields reversed higher overnight and quickly put that trade under pressure.
September finished with a much-needed relief rally as softer inflation data this morning and RBA Governor Michele Bullock’s less than hawkish commentary yesterday afternoon triggered a sharp rebound in beaten-up Real Estate, Discretionary and other rate-sensitive stocks.
The ASX ended up notching a decent gain today after a choppy session leading up to the 2:30pm RBA decision. At the sector level, a strong rebound in Technology and Materials helped offset weakness across Energy, Real Estate and Financials ahead of the decision.
The local index bounced strongly this morning, recovering from a three-month low on Friday, poking its head above the 8700 level before giving most of it back through the afternoon. The modest gain was driven by banks and defensives rather than a broad-based recovery and while Financials, Healthcare and Utilities looked solid, higher oil prices and bond yields kept Technology and Materials under pressure ahead of tomorrow's RBA decision.
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