ASX 200 kicks another 24 points higher to 7849 (+0.3%) as resources took centre stage. Iron ore stocks back in demand on China hopes, BHP up 0.7% with FMG up 1.9%. Lithium stocks also doing well on a price bounce in Asian trade, PLS up 1.3%, MIN up 0.5%, with LRS up 14.3%. Gold miners missed out despite higher bullion prices, NST down 1.5% and EVN off 0.8%. Oil and gas stocks weaker again, WDS down 0.9% and KAR falling 0.9%. Coal stocks in demand. Banks were slightly easier, with the Big Bank Basket down to $208.61 (-0.51%). CBA the culprit falling 0.8%. REITs gained as yields eased, GMG up 1.6%. Tech stocks fell, with WTC crumbling 3.0%. Industrials firmed, TLS up 0.5% and WES up 1.0%. SVW a standout, with mining exposure up 1.6%. Healthcare stocks better, with CSL up 1.2%. In corporate news, PRU fell 2.6% after Silvercorp accepted the offer for ORR. BBT in a trading halt after a 20.0% jump on potential scrip bid. On the economic front, we had dwelling commencements again somewhat disappointing, and Fitch downgraded the Chinese outlook to negative on debt rise. In Asian markets, Japan slid 0.4%, China down 1.1%, and HK headed 1.4% higher. 10-year yields back to 4.11%. Dow and NASDAQ Futures up 13 and 12 points, respectively.
Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.
Ready to invest in yourself? Join the Marcus Today community.