AU Evening Wrap: ASX Hits Lowest Since Jan 3; ANZ Tips Two RBA Rate Increases

Moomoo News AU wrote a column · Mar 16, 2023 15:07

G'day, mooers! Check out the latest news on today's stock market!
• ASX has erased nearly all their gains for this year to close at 6965.5 points
• Top gainers: $Liontown Resources Ltd (LTR.AU)$, $Auckland International Airport Ltd (AIA.AU)$, $Telix Pharmaceuticals Ltd (TLX.AU)$
• Top losers: $Fletcher Building Ltd (FBU.AU)$, $Coronado Global Resources Inc (CRN.AU)$, $Computershare Ltd (CPU.AU)$
- moomoo News AU

$S&P/ASX 200 (.XJO.AU)$ have erased nearly all their gains for this year to close at 6965.5 points, slightly above their calendar year low of 6946.2 points on January 3.

The selling failed to relent after Credit Suisse detailed plans to shore up its cash position. The market was down 1.5 per cent on the day.

The energy sector cratered 4.8 per cent and the materials sector was down 3.2 per cent. $Woodside Energy Group Ltd (WDS.AU)$ lost 5.4 per cent and $BHP Group Ltd (BHP.AU)$ 4.8 per cent.

Financials fell 1.4 per cent, with $CommBank (CBA.AU)$ the best performer among the big four, losing just 0.1 per cent.

Gold miners climbed. At the close, Dow Jones sharemarket futures were up 0.3 per cent.

ANZ Bank's economics team is calling for two more rate increases after the latest labour force report showed the jobless rate fell to 3.5 per cent in February from January's 3.7 per cent.

"We believe these data support the RBA increasing interest rates by 25bp in April and May, bringing the terminal rate to 4.1% (ie no change to our RBA view)," ANZ said.

S&P/ASX 200 Movers for Thursday (16/3)

AU Evening Wrap: ASX Hits Lowest Since Jan 3; ANZ Tips Two RBA Rate Increases

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 Thursday (16/3)

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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