ASX 200 drops; the Information Technology sector is the top loser

May 11, 2022

At AEST 12:01 PM, on 11 May 2022, the  benchmark index ASX 200 is in the red zone, dropping 0.21% from its previous close and trading at 7,036.20. Out of 11 sectors, 7 sectors are lower along with S&P/ASX 200 Index.

Healthcare and Consumer Staples are the top gainers with a gain of 1.23% and 0.30% respectively. On the other hand, the information technology and financial sector are the top losers with 1.07% and 0.78% drop in their index values.

Lifestyle Communities Limited (ASX: LIC) and Unibail-Rodamco-Westfield (ASX: UVW) are top gainers at this time, with 7.502% and 3.193% growth in their share prices respectively. On the other hand, Link Administration Holdings Limited (ASX: LNK) and Healius Limited (ASX: HLS) are the top losers with 12.677% and 7.858% drop in their share prices respectively.

Factors influencing the market:

  • Consumer price in China rose 2.1% YoY in April 2022. The value was more than the expectation.
  • Inflation and rising interest rate in impacting investor sentiment.
  • The Hang Seng is down -0.40%, and the FTSE 100 is up 0.37% today.

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