AU Evening Wrap: ASX Extends Rally on Hopes of Fed Rate Cuts
$S&P/ASX 200 (.XJO.AU)$ closed 0.65% higher at 7537.9, moving to within 91 points of its record close. The benchmark index jumped early tracking Wall Street's rally as investors further position for the US Federal Reserve to start cutting interest rates next year. Ten of 11 sectors finished higher on Wednesday, with only tech losing ground.
Banks $CommBank (CBA.AU)$, $National Australia Bank Ltd (NAB.AU)$, $ANZ Group Holdings Ltd (ANZ.AU)$ and $Westpac Banking Corp (WBC.AU)$ put on between 0.3% and 1.0%.
Lithium stocks led gains by miners, while $Rio Tinto Ltd (RIO.AU)$ and $BHP Group Ltd (BHP.AU)$ inched higher by 0.1% and 0.4%, respectively.
The ASX 200 is 7.1% higher so far in 2023 and on a run of three consecutive weekly gains amid hopes that global interest rates have peaked. If it adds another 1.2%, it would beat its August 2021 record close of 7628.9.
S&P/ASX 200 Movers for Wednesday (Dec/20)
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 Wednesday (Dec/20)
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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