Australian Market Slightly Trims Early Gains In Mid-market
(RTTNews) - The Australian stock market is slightly trimming its early gains in mid-market moves on Wednesday, reversing some of the losses in the previous session, with the benchmark S&P/ASX 200 moving well above the 8,650 level, despite the broadly negative cues from Wall Street overnight, with gains in energy and financial stocks partially offset by weakness in technology stocks.
The benchmark S&P/ASX 200 Index is gaining 19.40 points or 0.22 percent to 8,691.90, after touching a high of 8,705.60 earlier. The broader All Ordinaries Index is up 18.80 points or 0.21 percent to 8,868.10. Australian stocks ended significantly lower on Tuesday.
Among major miners, BHP Group and Rio Tinto are edging up 0.1 to 0.3 percent each, while Mineral Resources is losing almost 1 percent, Fortescue is flat.
Oil stocks are mostly higher. Woodside Energy and Santos are advancing almost 3 percent each, while Beach energy is gaining almost 4 percent and Origin Energy is adding almost 2 percent.
In the tech space, Afterpay owner Block is losing almost 1 percent, Xero is down more than 1 percent, Appen is slipping more than 3 percent, WiseTech Global is declining almost 2 percent and Zip is sliding almost 2 percent.
Among the big four banks, Commonwealth Bank and ANZ Banking are gaining almost 1 percent each, while Westpac and National Australia bank are adding more than 1 percent each.
Among gold miners, Evolution Mining is slipping almost 2 percent and Resolute Mining is losing almost 1 percent, while Genesis Minerals and Northern Star Resources are declining more than 2 percent each. Newmont is gaining almost 1 percent.
In the currency market, the Aussie dollar is trading at $0.713 on Wednesday.
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Japanese Market Modestly Lower
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