AU Evening Wrap: ASX Closed 0.1% Lower, Resource Cushioned the Index From Deeper Loss

Moomoo News AU wrote a column · Mar 1, 2023 15:02

G'day, mooers! Check out the latest news on today's stock market!
• ASX 200 cut a 42-point loss to seven points or 0.09 per cent by the close
• Top gainers: $Yancoal Australia Ltd (YAL.AU)$, $Allkem Ltd (AKE.AU)$, $AMP Ltd (AMP.AU)$
• Top losers: $Ingenia Communities Group (INA.AU)$, $Link Administration Holdings Ltd (LNK.AU)$, $Telix Pharmaceuticals Ltd (TLX.AU)$
- moomoo News AU

The $S&P/ASX 200 (.XJO.AU)$ was down 0.1 per cent to 7251.6 at the close on the day GDP data missed expectations.

Australia's economy expanded 0.5 per cent in the December quarter, compared with 0.7 per cent in the previous quarter, under forecasts of 0.8 per cent, the Australian Bureau of Statistics said on Wednesday.

Annual CPI was also under forecasts, and rose 7.4 per cent.

Resource stocks outperformed for a second day. Overnight rebounds in gold, copper, oil and iron ore helped raise the materials sector further from Monday's eight-week low.

$Ramelius Resources Ltd (RMS.AU)$ put on 6.7 per cent, $Perseus Mining Ltd (PRU.AU)$ 4.83 per cent and $Allkem Ltd (AKE.AU)$ 4.58 per cent. Among the heavyweights, $Newcrest Mining Ltd (NCM.AU)$ gained 3.73 per cent, $Fortescue Ltd (FMG.AU)$ 3.36 per cent, $Rio Tinto Ltd (RIO.AU)$ 2.48 per cent and $Woodside Energy Group Ltd (WDS.AU)$ 2.48 per cent.

The interest rate-sensitive property sector led the selling as short-term bond yields hovered near their highest in more than a decade. The yield on two-year Australian government bonds neared its highest since 2012 before retreating after the morning’s economic data.

$Lifestyle Communities Ltd (LIC.AU)$ shed 4.94 per cent, $HomeCo Daily Needs REIT (HDN.AU)$ 3.04 per cent and $HMC Capital Ltd (HMC.AU)$ 2.75 per cent. Industrial landlord $Goodman Group (GMG.AU)$ sagged 2.17 per cent.

The big four banks lost between 1.14 and 2.07 per cent. Other drags included CSL -1.16 per cent, Transurban -1.06 per cent and Coles -1.05 per cent.

S&P/ASX 200 Movers for Wednesday (1/3)

AU Evening Wrap: ASX Closed 0.1% Lower, Resource Cushioned the Index From Deeper Loss

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"

10 Top-Traded AU Stocks for Wednesday (1/3)

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"

Source: Dow Jones Newswires, The Market Herald

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