Weekly | Fintech and Lithium Sectors Rally Following FOMC Announcement

As of the close on Friday,$S&P/ASX 200(XJO.AU)$ closed at 7,442.70 points, up 3.44% in the past 5 days.

1. $Weebit Nano(WBT.AU)$  +18.65%

• $Weebit Nano(WBT.AU)$ , a leading developer of advanced memory technologies for the global semiconductor industry, jumped 14.79% on Friday.

• The semiconductor rally of US stocks and volatility of the quadruple witching day on Friday may lead to the stocks rally as there is no price-sensitive news released this week.

2.Fintech companies  $Credit Corp(CCP.AU)$ +16.62%, $Link Administration Holdings Ltd(LNK.AU)$ +15.25%

• Fintech companies also benefit from US stock rally this week after FOMC dovish signals.

• $Credit Corp(CCP.AU)$ acquires and manages debt portfolios, providing financial solutions for credit-impaired consumers.

• $Link Administration Holdings Ltd(LNK.AU)$ offers tech platforms for managing financial assets and administrative processes.

• The two financial companies gained for 5th and 6th straight days respectively as of close on Friday.

3.Lithium companies  $CORE LITHIUM LTD(CXO.AU)$ +15.09%, $Allkem Limited(AKE.AU)$ +14.30%

• CXO and AKE develop lithium and other minerals.

• ASX 200 lithium sector took a rally this week, reflecting positive sentiment after FOMC, despite the lithium price being down about 80% in 2023.

• The upward movement mirrored the rise of US lithium giant $Albemarle(ALB)$ , which gained 9.5% following the Fed's announcement, indicating potential growth in demand for EV-related materials.