ASX 200 Dropped Sharply By 1.95%; IT Sector Declined More Than 4.0%
By the end of the trading session on 29 August 2022, the benchmark index S&P/ASX 200 ended lower by 1.95% and settled at 6,965.50. All 11 sectors closed lower along with the ASX 200. The Information Technology and Materials sectors were the top 2 losing sectors, declined 4.38% and 2.40% in their index values.
Tyro Payments Limited (ASX: TYR) and The A2 Milk Company Limited (ASX: A2M) were the top gainers with 11.000% and 9.979% growth in share prices, respectively. On the other hand, Polynovo Limited (ASX: PNV) and Chalice Mining Limited (ASX: CHN) were the top losers, with 17.074% and 10.000% drop in share prices, respectively.
Australian share market fell by 1.99% after hawkish comments from Federal Reserve Chair Jerome Powell showed that the central bank had no intention of slowing its pace of interest rate hikes.
The A2 Milk Company's share price gained after it announced to undertake a capital return of up to NZ$150 million via an on-market share buyback which is forecasted to commence towards the end of September.
The U.S dollar surged to a 20-year high against a basket of currencies on Monday after Federal Reserve Chair Jerome Powell signaled interest rates would be kept higher for longer to bring down soaring inflation.
Oil prices are marginally higher today as hopes of a supply cut by OPEC offset heightened concerns over an economic slowdown forecast by the U.S. Federal Reserve.
Dow has closed down 3.0%, S&P 500 down by 3.4%, and NASDAQ closed lower by 3.9%.
Hang Seng is down by 0.86%, and FTSE 100 is down by 0.70%.
Top 5 Gainers and Losers Scoreboard:
90-Day Average Volume Outlier:
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ASX 200 Dropped Sharply By 1.95%; IT Sector Declined More Than 4.0%
By the end of the trading session on 29 August 2022, the benchmark index S&P/ASX 200 ended lower by 1.95% and settled at 6,965.50. All 11 sectors closed lower along with the ASX 200. The Information Technology and Materials sectors were the top 2 losing sectors, declined 4.38% and 2.40% in their index values.
Tyro Payments Limited (ASX: TYR) and The A2 Milk Company Limited (ASX: A2M) were the top gainers with 11.000% and 9.979% growth in share prices, respectively. On the other hand, Polynovo Limited (ASX: PNV) and Chalice Mining Limited (ASX: CHN) were the top losers, with 17.074% and 10.000% drop in share prices, respectively.
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Top Loser for the day:
Other Factors influencing the market:
Top 5 Gainers and Losers Scoreboard:
90-Day Average Volume Outlier:
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au.au