AU Evening Wrap: ASX closed 1.6% lower as mining, energy retreated
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• ASX 200 closed sharply lower Monday, dropping 105.30 points or 1.60% to 6,469.40 and setting a new 50-day low.
• Top gainers: $Megaport Ltd(MP1.AU$ $REA Group Ltd(REA.AU$ $Technology One Ltd(TNE.AU$
• Top losers: $Whitehaven Coal Ltd(WHC.AU$ $Coronado Global Resources Inc(CRN.AU$ $Yancoal Australia Ltd(YAL.AU$
- moomoo News AU
• ASX 200 closed sharply lower Monday, dropping 105.30 points or 1.60% to 6,469.40 and setting a new 50-day low.
• Top gainers: $Megaport Ltd(MP1.AU$ $REA Group Ltd(REA.AU$ $Technology One Ltd(TNE.AU$
• Top losers: $Whitehaven Coal Ltd(WHC.AU$ $Coronado Global Resources Inc(CRN.AU$ $Yancoal Australia Ltd(YAL.AU$
- moomoo News AU
The Australian sharemarket tumbled on Monday amid fears of a recession in the UK and the potential for a fiscal slump in the US.
The dive on the local market follows a brutal weekend on Wall Street and in London after the British pound fell to a 37-year low following new Prime Minister Liz Truss's announcement of tax cuts.
The dive on the local market follows a brutal weekend on Wall Street and in London after the British pound fell to a 37-year low following new Prime Minister Liz Truss's announcement of tax cuts.
British Chancellor Kwasi Kwarteng last week delivered a mini-budget promising the largest tax cuts since 1972 in a bid to salvage the economy after the Bank of England said it was in the early stages of a recession.
Australia's $S&P/ASX 200(.XJO.AU$ closed 1.6% lower at 6469.4, weighed by sharp falls in mining and energy shares as commodity prices declined.
Investors sold off those stocks amid rising concern over the global economic outlook, sparked by fears that policy tightening by the Fed and other central banks may lead to a global recession.
$BHP Group Ltd(BHP.AU$, the world's No. 1 miner, closed down 5.2% at A$36.20, while the world's No. 2 miner, $Rio Tinto Ltd(RIO.AU$, ended 5.6% lower at A$87.78.
Among oil stocks, $Karoon Energy Ltd(KAR.AU$ was the hardest hit, falling 9.4% to A$1.79. $New Zealand King Salmon Investments Ltd(NZK.AU$'s stock market was closed Monday for a national holiday to mourn the death of Queen Elizabeth II.
Investors sold off those stocks amid rising concern over the global economic outlook, sparked by fears that policy tightening by the Fed and other central banks may lead to a global recession.
$BHP Group Ltd(BHP.AU$, the world's No. 1 miner, closed down 5.2% at A$36.20, while the world's No. 2 miner, $Rio Tinto Ltd(RIO.AU$, ended 5.6% lower at A$87.78.
Among oil stocks, $Karoon Energy Ltd(KAR.AU$ was the hardest hit, falling 9.4% to A$1.79. $New Zealand King Salmon Investments Ltd(NZK.AU$'s stock market was closed Monday for a national holiday to mourn the death of Queen Elizabeth II.
S&P/ASX 200 Movers for Monday (26/9)
How to find the above information in moomoo app:
1. Open moomoo app
2. Search for and tap on ".XJO"
3. Roll down to see "Constituent Stocks"
4. You can filter the list based on "%Chg"
2. Search for and tap on ".XJO"
3. Roll down to see "Constituent Stocks"
4. You can filter the list based on "%Chg"
10 Top-Traded AU Stocks for Monday (26/9)
How to find the above information in moomoo app:
1. Open moomoo app
2. Tap your finger on "Market" and "AU"
3. Roll down and tap on "Main Board"
4. You can filter the list based on "Turnover"
1. Open moomoo app
2. Tap your finger on "Market" and "AU"
3. Roll down and tap on "Main Board"
4. You can filter the list based on "Turnover"
Source: Dow Jones Newswires, The Market Herald
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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