For the third straight session, the ASX rallied through the 7500 level but failed to hold it to the close as profit takers sell into the early session strength. Despite the index closing lower, more than half of the shares in the ASX200 closed higher today, showing the smaller end of town was starting to see some catch-up buying. Tech was the standout sector, helped by a few upgrades at the big end of the sector, while telcos were also better than 1% higher as a sector. Staples and Healthcare were the main laggards today.
After a day off yesterday, the ASX had another day out today, cracking new 9-month highs early on. Despite giving back some of the strength, the market was well supported, if not running into a bit of selling pressure around the 7500 level. Tech and Consumer Discretionary were the standouts, a strange combination of growth and defensive sectors to top the leaderboard.. Energy was the main laggard as coal names were sold off. Overall, the index was up +41pts/+0.56% for the week in its 4th consecutive weekly gain.
The ASX traded through 7500 for the first time since April 2022 in early trade before CPI data dropped and the market traded lower for the rest of the session. CPI came in much higher than expected, up 1.9% QoQ vs expectations of 1.6%. The index dropped -47pts at the time, however, by the end of the day the impact was pretty muted and the rate-sensitive Aussie 2 year bond yields only moved 10bps higher. Tech saw the biggest swing in performance, however, Energy...
It was a case of rinse & repeat for the ASX today with early sold-off then seeing support kicking in before midday to take the index to a new 9-month high. Despite the strength in the index, the banks failed to join the rally, certainly surprising to see such a strong move without the Financial sector contributing, likely on the back of a sector-wide downgrade coming through from Macquarie yesterday. It was the Materials sector continuing to see buying that dragged the index to within 2% of all-time highs today while Real Estate and Tech were also key pillars of strength.
Bulls & Bears played tug of war today in a whipsawing session to start the week. The index quickly rallied to a new high early on before giving up ~40pts within an hour of hitting the peak. Buyers stepped up from there, helping the ASX200 to stem the losses and trade back into marginally positive territory. With most Asian markets closed for Lunar New Year celebrations, there was little in the way of news flow to control the index. Tech shares...
The ASX punched new 8-month highs for the 5th consecutive session today with the bulls outlasting some lunchtime wobbles to trade higher into the close. It was the commodity sectors of energy and materials leading the charge, and impressively carrying the index as less than half of the shares in the ASX200 closed higher on the day. Telcos were the main drag on the index, but most surprising was a fall in the Financials despite the green session. The ASX climbed more than 1% for the week for the third consecutive time, adding 124pts / +1.69%.
Local shares shrugged weakness seen in international markets today to storm to a new 8-month high. The market eased slightly on the open, however, once employment data hit at 11.30am, buyers stepped up to the plate. Despite the strength in the index, only half of the ASX200 managed a gain today- clearly the heavyweights doing the heavy lifting. The influential sectors of Materials and Financials were the top performers while Tech and Energy both struggled.
Another quiet session from an index perspective with the ASX trading in a tight band of fewer than 20 points on either side of yesterday’s close before settling marginally higher. Tech was the standout sector today with Healthcare a strong second place, both helped by falling bond yields. Real Estate was the main laggard, while the utilities continued its recent slide. The big news today was the Bank of Japan holding rates at -0.1%, some economists were predicting the first move from the BOJ in 7 years.
The ASX snapped a 4-day winning streak today, though only ending marginally lower after a directionless session given US markets were closed overnight. Surprisingly, more than half of the sectors in the index closed higher today, lead by a strong +1.8% gain in the Consumer Staples sector, while Real Estate was also better than 1% higher. On the flip side, Utilities were the worst performer for the second straight session falling -1.25%, while...
The local market kicked off the week on the front foot, continuing the momentum seen since the turn of the New Year to push into a new 8-month high. It was a broad-based rally with all sectors in the green and 4 sectors up more than 1% led by a surging tech sector. Materials were one the laggards, mostly on the back of weakness in iron ore stocks as China flagged a potential response to the surging price of the commodity.
After a day off yesterday, the ASX had another day out today, cracking new 9-month highs early on. Despite giving back some of the strength, the market was well supported, if not running into a bit of selling pressure around the 7500 level. Tech and Consumer Discretionary were the standouts, a strange combination of growth and defensive sectors to top the leaderboard.. Energy was the main laggard as coal names were sold off. Overall, the index was up +41pts/+0.56% for the week in its 4th consecutive weekly gain.
The ASX traded through 7500 for the first time since April 2022 in early trade before CPI data dropped and the market traded lower for the rest of the session. CPI came in much higher than expected, up 1.9% QoQ vs expectations of 1.6%. The index dropped -47pts at the time, however, by the end of the day the impact was pretty muted and the rate-sensitive Aussie 2 year bond yields only moved 10bps higher. Tech saw the biggest swing in performance, however, Energy...
It was a case of rinse & repeat for the ASX today with early sold-off then seeing support kicking in before midday to take the index to a new 9-month high. Despite the strength in the index, the banks failed to join the rally, certainly surprising to see such a strong move without the Financial sector contributing, likely on the back of a sector-wide downgrade coming through from Macquarie yesterday. It was the Materials sector continuing to see buying that dragged the index to within 2% of all-time highs today while Real Estate and Tech were also key pillars of strength.
Bulls & Bears played tug of war today in a whipsawing session to start the week. The index quickly rallied to a new high early on before giving up ~40pts within an hour of hitting the peak. Buyers stepped up from there, helping the ASX200 to stem the losses and trade back into marginally positive territory. With most Asian markets closed for Lunar New Year celebrations, there was little in the way of news flow to control the index. Tech shares...
The ASX punched new 8-month highs for the 5th consecutive session today with the bulls outlasting some lunchtime wobbles to trade higher into the close. It was the commodity sectors of energy and materials leading the charge, and impressively carrying the index as less than half of the shares in the ASX200 closed higher on the day. Telcos were the main drag on the index, but most surprising was a fall in the Financials despite the green session. The ASX climbed more than 1% for the week for the third consecutive time, adding 124pts / +1.69%.
Local shares shrugged weakness seen in international markets today to storm to a new 8-month high. The market eased slightly on the open, however, once employment data hit at 11.30am, buyers stepped up to the plate. Despite the strength in the index, only half of the ASX200 managed a gain today- clearly the heavyweights doing the heavy lifting. The influential sectors of Materials and Financials were the top performers while Tech and Energy both struggled.
Another quiet session from an index perspective with the ASX trading in a tight band of fewer than 20 points on either side of yesterday’s close before settling marginally higher. Tech was the standout sector today with Healthcare a strong second place, both helped by falling bond yields. Real Estate was the main laggard, while the utilities continued its recent slide. The big news today was the Bank of Japan holding rates at -0.1%, some economists were predicting the first move from the BOJ in 7 years.
The ASX snapped a 4-day winning streak today, though only ending marginally lower after a directionless session given US markets were closed overnight. Surprisingly, more than half of the sectors in the index closed higher today, lead by a strong +1.8% gain in the Consumer Staples sector, while Real Estate was also better than 1% higher. On the flip side, Utilities were the worst performer for the second straight session falling -1.25%, while...
The local market kicked off the week on the front foot, continuing the momentum seen since the turn of the New Year to push into a new 8-month high. It was a broad-based rally with all sectors in the green and 4 sectors up more than 1% led by a surging tech sector. Materials were one the laggards, mostly on the back of weakness in iron ore stocks as China flagged a potential response to the surging price of the commodity.
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