AU Evening Wrap: Australia Shares Rise 1.65% on Broad-Based Gains

Moomoo News AU wrote a column · Dec 14, 2023 01:21

• Top gainers: $Charter Hall Group (CHC.AU)$, $IGO Ltd (IGO.AU)$, $Allkem Ltd (AKE.AU)$
• Top losers: $NIB Holdings Ltd (NHF.AU)$, $Orora Ltd (ORA.AU)$, $QBE Insurance Group Ltd (QBE.AU)$

$S&P/ASX 200 (.XJO.AU)$ closed 1.65% higher at 7377.9 on broad-based gains. The benchmark index jumped at the open after U.S. Federal Reserve officials penciled in three rate cuts for 2024 and held onto its gains through the session.

All 11 sectors finished higher, with real-estate, tech and materials leading the way.

Property groups $GPT Group (GPT.AU)$, $Cromwell Property Group (CMW.AU)$, and $Charter Hall Group (CHC.AU)$ surged by between 6.4% and 12%.

Software providers $Xero Ltd (XRO.AU)$ and $WiseTech Global Ltd (WTC.AU)$ added 2.9% and 3.7%, respectively.

Gold, lithium and iron-ore stocks all rose. The risk-on trading boosted lithium miners, which have been trending down for much of the year: $IGO Ltd (IGO.AU)$ added 11.3%, $Core Lithium Ltd (CXO.AU)$ gained 8.2% and $Pilbara Minerals Ltd (PLS.AU)$ rallied 8.6%.

The ASX 200's fifth straight daily gain left it 2.5% higher so far this week and on course for a third consecutive weekly rise, a feat it last managed in July.

S&P/ASX 200 Movers for Thursday (Dec/14)