A decent bounce into the weekend meant that the local index closed only 66pts lower on the week, less than 1% down on the close last week/ It felt like a far more painful 5 days though.
The profit taking continued today with the ASX pulling back from Tuesday’s peak. The index did manage to put on a few points from its mid-afternoon low with buyers stepping up as the index approached the 7000 level.
The market took a step back today, joining international markets in a pullback against recent gains. Tech continues to be in the firing line as growth expectations are curbed by interest rate forecasts.
Shares closed lower today with fears of an economic backlash from China following months of heightened tensions. Early strength was quickly swallowed up by the selling and the index traded 30-40points lower for the most of the session.
The market continued higher today despite weakness generally in overseas leads, with the ASX 200 hitting another post pandemic high of 7122 with strength in CSL underpinning the healthcare sector, while Materials & Financials were also strong.
If it wasn’t for the banks & Telstra today, it would have been a poor session on the ASX however when the average gain for the banks is over 2% and Telstra (TLS) rallies ~3% it provides a decent backbone for the broader market.
The profit taking continued today with the ASX pulling back from Tuesday’s peak. The index did manage to put on a few points from its mid-afternoon low with buyers stepping up as the index approached the 7000 level.
The market took a step back today, joining international markets in a pullback against recent gains. Tech continues to be in the firing line as growth expectations are curbed by interest rate forecasts.
Shares closed lower today with fears of an economic backlash from China following months of heightened tensions. Early strength was quickly swallowed up by the selling and the index traded 30-40points lower for the most of the session.
The market continued higher today despite weakness generally in overseas leads, with the ASX 200 hitting another post pandemic high of 7122 with strength in CSL underpinning the healthcare sector, while Materials & Financials were also strong.
If it wasn’t for the banks & Telstra today, it would have been a poor session on the ASX however when the average gain for the banks is over 2% and Telstra (TLS) rallies ~3% it provides a decent backbone for the broader market.
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