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KhimTan
2022-09-12

ASX Update: Market Surges for Third Session

Aussie stocks leaped out of the blocks, surging more than 1 per cent to their highest level this mon

ASX Update: Market Surges for Third Session

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The advance put the market on track for a third day of gains.A broad rally led by mining and tech stocks lifted ten of eleven sectors. Healthcare was the only laggard.What’s driving the marketPositive leads from Wall Street and commodity markets helped the ASX 200 extend a powerful rebound since Wednesday’s seven-week low. At this morning’s high point, the Australian benchmark had put on 240 points or 3.5 per cent in three sessions.The reversal has come amid signs US investors have resigned themselves to another jumbo rate hike next week. The S&amp;P 500 popped 1.53 per cent on Friday, even as Federal Reserve officials continued to warn interest rates will need to go much higher this year to contain inflation.“U.S stock markets rebounded last week, led by the high beta Nasdaq, which closed 4% higher. The rally was supported by solid economic data, lower oil prices and hope that the pace of the Fed’s rate hiking cycle is set to slow after the Sep FOMC meeting,” Tony Sycamore, market analyst at City Index, said.Wall Street’s main indices broke three-week losing runs as traders anticipated relief this week from Fed hawks. The central bank is now in its blackout period ahead of next Wednesday’s announcement.On commodity markets, industrial metals had their best week since July. Iron ore climbed 7.4 per cent in China last week amid further measures to spur infrastructure spending. Oil and gold also rose as the US dollar backed off two-decade highs.This week’s key risk events include US consumer inflation data tomorrow night, Australian employment data on Thursday and China’s monthly economic update on Friday.Going upGold miners filled two of the top four slots on the index as the sub-sector built on last week’s rebound from near four-year lows. The yellow metal nudged up 0.5 per cent on Friday after an important support level held last week.De Grey rallied 6.45 per cent. Gold Road Resources put on 5.7 per cent. Industry giant Newcrest inched up 0.11 per cent.Growth stocks continued to benefit from the improvement in risk appetite. EML Payments popped 6.5 per cent, Life360 4.79 per cent and Afterpay parent Block 4.44 per cent.A resource upgrade and a jump in nickel prices lifted Nickel Industries 6.7 per cent. IGO Ltd climbed 2.38 per cent to its highest level since April.Fortescue Metals was the pick of the index heavyweights, rising 3.85 per cent. BHP tacked on 3.28 per cent, James Hardie 2.54 per cent and ANZ 1.74 per cent.Synlait firmed 0.32 per cent after Chinese authorities renewed the firm’s licence to manufacture and sell A2 Milk’s infant formula until February 2023. A2 Milk gained 6.15 per cent.Going downLiontown Resources eased 1.39 per cent after appointing independent producer Zenith Energy to supply electricity to Liontown’s Kathleen Valley lithium project. The power project is expected to be the largest off-grid wind-solar-battery storage hybrid power station in Australia.MA Financial Group plunged 20.59 per cent before trade was paused pending an announcement.Toll road operator Atlas Arteria retreated 1.32 per cent after acknowledging interest in bidding for a US toll road. The company said it was participating in the sales process for the Chicago Skyway, but there was no certainty a transaction would eventuate.Santos slipped 1.4 per cent following media speculation major shareholder ENN was looking to sell down its stake. The firm noted ENN reduced its holding earlier this year from 9.97 per cent to less than 5 per cent.Other heavyweight drags this morning included CSL -0.4 per cent and Woolworths -0.1 per cent.Other marketsAsian markets followed Wall Street’s lead. The Asia Dow climbed 0.38 per cent. Japan’s Nikkei rallied 1.13 per cent. Markets in Hong Kong and mainland China were closed for public holidays.US futures pared early gains. S&amp;P 500 futures were recently ahead four points or 0.1 per cent.Oil started the week on the back foot. Brent crude reversed $US1.28 or 1.4 per cent to US$91.56 a barrel.Gold eased US$3 or 0.17 per cent to US$1,725.60 an ounce.The dollar declined 0.16 per cent to 68.35 US cents.</body></html>","source":"lsy1645078131697","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ASX Update: Market Surges for Third Session</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nASX Update: Market Surges for Third Session\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-12 11:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://themarketherald.com.au/asx-update-market-surges-for-third-session-2022-09-12/>The Market Herald</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAussie stocks leaped out of the blocks, surging more than 1 per cent to their highest level this month.At the halfway mark, the S&P/ASX 200 was ahead 79 points or 1.14 per cent at 6973. The advance ...\n\n<a href=\"https://themarketherald.com.au/asx-update-market-surges-for-third-session-2022-09-12/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XAO.AU":"标普/澳交所 普通股指数","XKO.AU":"标普/澳交所 300指数","XJO.AU":"标普/澳交所 200指数"},"source_url":"https://themarketherald.com.au/asx-update-market-surges-for-third-session-2022-09-12/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143292168","content_text":"Aussie stocks leaped out of the blocks, surging more than 1 per cent to their highest level this month.At the halfway mark, the S&P/ASX 200 was ahead 79 points or 1.14 per cent at 6973. The advance put the market on track for a third day of gains.A broad rally led by mining and tech stocks lifted ten of eleven sectors. Healthcare was the only laggard.What’s driving the marketPositive leads from Wall Street and commodity markets helped the ASX 200 extend a powerful rebound since Wednesday’s seven-week low. At this morning’s high point, the Australian benchmark had put on 240 points or 3.5 per cent in three sessions.The reversal has come amid signs US investors have resigned themselves to another jumbo rate hike next week. The S&P 500 popped 1.53 per cent on Friday, even as Federal Reserve officials continued to warn interest rates will need to go much higher this year to contain inflation.“U.S stock markets rebounded last week, led by the high beta Nasdaq, which closed 4% higher. The rally was supported by solid economic data, lower oil prices and hope that the pace of the Fed’s rate hiking cycle is set to slow after the Sep FOMC meeting,” Tony Sycamore, market analyst at City Index, said.Wall Street’s main indices broke three-week losing runs as traders anticipated relief this week from Fed hawks. The central bank is now in its blackout period ahead of next Wednesday’s announcement.On commodity markets, industrial metals had their best week since July. Iron ore climbed 7.4 per cent in China last week amid further measures to spur infrastructure spending. Oil and gold also rose as the US dollar backed off two-decade highs.This week’s key risk events include US consumer inflation data tomorrow night, Australian employment data on Thursday and China’s monthly economic update on Friday.Going upGold miners filled two of the top four slots on the index as the sub-sector built on last week’s rebound from near four-year lows. The yellow metal nudged up 0.5 per cent on Friday after an important support level held last week.De Grey rallied 6.45 per cent. Gold Road Resources put on 5.7 per cent. Industry giant Newcrest inched up 0.11 per cent.Growth stocks continued to benefit from the improvement in risk appetite. EML Payments popped 6.5 per cent, Life360 4.79 per cent and Afterpay parent Block 4.44 per cent.A resource upgrade and a jump in nickel prices lifted Nickel Industries 6.7 per cent. IGO Ltd climbed 2.38 per cent to its highest level since April.Fortescue Metals was the pick of the index heavyweights, rising 3.85 per cent. BHP tacked on 3.28 per cent, James Hardie 2.54 per cent and ANZ 1.74 per cent.Synlait firmed 0.32 per cent after Chinese authorities renewed the firm’s licence to manufacture and sell A2 Milk’s infant formula until February 2023. A2 Milk gained 6.15 per cent.Going downLiontown Resources eased 1.39 per cent after appointing independent producer Zenith Energy to supply electricity to Liontown’s Kathleen Valley lithium project. The power project is expected to be the largest off-grid wind-solar-battery storage hybrid power station in Australia.MA Financial Group plunged 20.59 per cent before trade was paused pending an announcement.Toll road operator Atlas Arteria retreated 1.32 per cent after acknowledging interest in bidding for a US toll road. The company said it was participating in the sales process for the Chicago Skyway, but there was no certainty a transaction would eventuate.Santos slipped 1.4 per cent following media speculation major shareholder ENN was looking to sell down its stake. The firm noted ENN reduced its holding earlier this year from 9.97 per cent to less than 5 per cent.Other heavyweight drags this morning included CSL -0.4 per cent and Woolworths -0.1 per cent.Other marketsAsian markets followed Wall Street’s lead. The Asia Dow climbed 0.38 per cent. Japan’s Nikkei rallied 1.13 per cent. 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