AU Evening Wrap: Jumbo rate rise drives stocks to two-week low
G'day, mooers! Check out the latest news on today's stock market!
• ASX 200 is sharply lower today, dropping 110.60 points or 1.53% to 7,095.70 and crossing below its 20-day moving average.
• Top gainers: $Yancoal Australia Ltd(YAL.AU$, $Sandfire Resources Ltd(SFR.AU$, $Ampol Ltd(ALD.AU$
• Top losers: $Latitude Group Holdings Ltd(LFS.AU$, $Ingenia Communities Group(INA.AU$, $PEXA Group Ltd(PXA.AU$
- moomoo News AU
• ASX 200 is sharply lower today, dropping 110.60 points or 1.53% to 7,095.70 and crossing below its 20-day moving average.
• Top gainers: $Yancoal Australia Ltd(YAL.AU$, $Sandfire Resources Ltd(SFR.AU$, $Ampol Ltd(ALD.AU$
• Top losers: $Latitude Group Holdings Ltd(LFS.AU$, $Ingenia Communities Group(INA.AU$, $PEXA Group Ltd(PXA.AU$
- moomoo News AU
Australian shares suffered their heaviest loss in more than three weeks after the Reserve Bank raised its benchmark rate by 50 basis points to 0.85 per cent.
The dollar jumped and shares slumped when news of the bumper hike was released.
The $S&P/ASX 200(.XJO.AU$ dived 111 points or 1.53 per cent to 7096, its weakest close since May 19. Today's loss was the largest since a 124-point plunge on May 12.
All 11 sectors declined. Tech firms, property stocks and BNPL providers were among the biggest drags. Just ten companies on the benchmark index gained more than 1 per cent.
Miners provided some of the best gains on a day when winners were scarce and decent increases scarcer still. $Sandfire Resources Ltd(SFR.AU$ firmed 3.36 per cent. $Lynas Rare Earths Ltd(LYC.AU$ added 1.5 per cent. At the heavyweight end, $Rio Tinto Ltd(RIO.AU$ added 0.67 per cent and $Oz Minerals Ltd(OZL.AU$ 0.79 per cent.
Buy now, pay later players sank after Apple launched its own offering, called Apple Pay Later. The service will be built into Apple Pay and come with iOS 16.
Buy now, pay later players sank after Apple launched its own offering, called Apple Pay Later. The service will be built into Apple Pay and come with iOS 16.
S&P/ASX 200 Movers for Tuesday (7/6)
How to find the above information in moomoo app:
1. Open moomoo app
2. Search for and tap on ".XJO"
3. Roll down to see "Constituent Stocks"
4. You can filter the list based on "%Chg"
2. Search for and tap on ".XJO"
3. Roll down to see "Constituent Stocks"
4. You can filter the list based on "%Chg"
10 Top-Traded AU Stocks for Tuesday (7/6)
How to find the above information in moomoo app:
1. Open moomoo app
2. Tap your finger on "Market" and "AU"
3. Roll down and tap on "Main Board"
4. You can filter the list based on "Turnover"
1. Open moomoo app
2. Tap your finger on "Market" and "AU"
3. Roll down and tap on "Main Board"
4. You can filter the list based on "Turnover"
Source: Dow Jones Newswires, The Market Herald
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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SpyderCall : This is good info. Bumper rate hikes in AU help inflation in our neck of the weeds as well. But will possibly have slightly negatively effect to equity markets. At least initially