S&P/ASX 200 Trading Higher By 0.60%; Mirroring U.S. Markets

On 16 August 2022, at AEST 12:10 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 42.10 points or 0.60%, and is currently trading at 7,106.40 levels. Out of 11 sectors, 9 sectors are trading higher along with the S&P/ASX 200.

The Consumer Staples and Healthcare sectors are the top 2 gaining sectors, gaining 1.71% and 1.30% in their index values. On the other hand, Energy and A-REIT sectors are the top 2 losing sectors, declining 1.06% and 0.30% in their index values.

PointsBet Holdings Limited (ASX: PBH) and BHP Group Limited (ASX: BHP) are the top gaining stocks, gaining 4.324% and 4.008% in their stock prices. On the other hand, Challenger Limited (ASX: CGF) and Zip Co Limited (ASX: ZIP) are the top losing stocks and are declining 12.922% and 6.667% in their stock prices.

Factors influencing the market-

• S&P/ASX200 is gaining, mirroring gains in New York even as iron ore and oil dropped on renewed concerns about China’s outlook.
• Challenger Limited’s share price is declining after the company reported a near-60% decline in statutory profit for the entire year ended June 30, as turbulent financial markets hit the investment manager.
• BHP Group Limited’s share price jumps more than 4% after the company unveiled a record dividend and its second-best profit for a financial year prior to the opening bell.
• Steel output for China fell 13% in July to 2.63 mega tonnes per day, marking a steeper decline than other sectors of the economy as concerns about the solvency of property developers hamper construction.
• Dow has closed up 0.5%, S&P 500 up by 0.4%, and NASDAQ closed higher by 0.6%.
• Hang Seng is up 0.29%, and FTSE 100 is up by 0.11%.

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