AU Evening Wrap: ASX drops 0.5% as Apple woes, retail data trigger reversal
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• ASX 200 closed down Wednesday, losing 34.20 points or 0.53% to 6,462.00.
• Top gainers: $Coronado Global Resources Inc(CRN.AU$, $Whitehaven Coal Ltd(WHC.AU$, $Meridian Energy Ltd(MEZ.AU$
• Top losers: $Telix Pharmaceuticals Ltd(TLX.AU$, $Imugene Ltd(IMU.AU$, $Genesis Energy Ltd(GNE.AU$
- moomoo News AU
• ASX 200 closed down Wednesday, losing 34.20 points or 0.53% to 6,462.00.
• Top gainers: $Coronado Global Resources Inc(CRN.AU$, $Whitehaven Coal Ltd(WHC.AU$, $Meridian Energy Ltd(MEZ.AU$
• Top losers: $Telix Pharmaceuticals Ltd(TLX.AU$, $Imugene Ltd(IMU.AU$, $Genesis Energy Ltd(GNE.AU$
- moomoo News AU
Australian shares reversed their early gains on Wednesday after Apple ditched plans to increase iPhone production, and a stronger-than-expected retail sales report suggested the Reserve Bank will need to keep tightening policy aggressively.
The interest rate-sensitive technology sector was the hardest hit as Australia's 10-year bond yield reached a three-month high, and the yield on the US 10-year note rose above 4 %for the first time since 2010.
$BrainChip Holdings Ltd(BRN.AU$ tumbled 5.1 % to 84.5¢, $Novonix(NVX.AU$ declined 4.3 % to $1.78, $Xero Ltd(XRO.AU$ fell 3.2 % to $77.12 and $Megaport Ltd(MP1.AU$ dropped 2.8 % to $7.72.
The big four banks also suffered; $Commonwealth Bank of Australia(CBAPK.AU$ dropped 1 % to $92.54, $National Australia Bank Ltd(NAB.AU$ tumbled 0.9 % to $28.99, $Westpac Banking Corp(WBC.AU$ fell 0.6 % to $20.93 and $ANZ Group Holdings Ltd(ANZ.AU$ dipped 0.4 % to $23.05.
The swing in sentiment in the day's session caused the local market to wipe off early gains fuelled by a rally across the energy sector.
Coal stocks were the strongest performers, benefiting from $Macquarie Group Ltd(MQG.AU$ upgrading its price forecasts for thermal coal, which led to analysts materially increasing their earnings projections for ASX-listed miners.
$Whitehaven Coal Ltd(WHC.AU$ jumped 3.9 % to $8.78, $New Hope Corp Ltd(NHC.AU$ gained 3% to $5.90 and $Coronado Global Resources Inc(CRN.AU$ climbed 5.9 % to $1.61.
S&P/ASX 200 Movers for Wednesday (28/9)
S&P/ASX 200 Movers for Wednesday (28/9)
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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 Wednesday (28/9)
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, AFR
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