Mid-Market: S&P/SAX 200 Trading Lower; All 11 Sectors Are Trading In Red

On 30 May 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 35.20 points or 0.46%, and is currently trading at 7,630.40 levels. All 11 sectors are trading lower along with the decline in the S&P/ASX 200. The Materials and Energy sectors are the top 2 declining sectors, declining 1.38% and 1.27% in their index values.

NRW Holdings Limited (ASX: NWH) and Helia Group Limited (ASX: HLI) are the top-gaining stocks, gaining 3.448% and 1.745% in their stock prices. On the other hand, Genesis Minerals Limited (ASX: GMD) and Boss Energy Ltd (ASX: BOE) are the top-losing stocks and are declining by 3.404% and 3.192% in their stock prices.

Factors influencing the market-

• The S&P/ASX 200 slipped lower, tracking weakness in New York as risk appetite fades amid concerns about the path of interest rates.
• Shares of ASX-listed beef producers are rising after the Minister for Agriculture Murray Watt confirmed that China had lifted its ban on Australian beef exporters that were locked out in a trade war in 2020.
• Oil retreated as another weak sale of Treasuries raised concerns about rising yields, stoking a risk-off mood across financial markets.
• The Dow has closed down by 1.06%, the S&P 500 closed down by 0.74%, and the NASDAQ ended lower by 0.58%.
• Hang Seng is down by 1.83%, and FTSE 100 is down by 0.86%.

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