End of Day – Thu 17 Mar

• The ASX 200 continues the rally up 76 points to 7215 (+1.0%) as tech stocks lead the charge higher. Bombed out and oversold tech stocks rallied hard after HK Tech and US Nasdaq gains. KGN up 12.0%, BET up 10.1% and PBH up 10.3% doing well as buyers return. BNPL stocks in focus as SQ2 bounces hard up 10.2%. The All-Tech Index rose 3.3%. WTC and XRO showing good gains. Banks were also strong with the Big Bank Basket up to $188.50 with MQG also up 1.1%. MFG up 6.6% continuing its run after the buyback was announced. Industrials firmed with CSL up 0.8%, ALL up 1.8% and REA better by 4.8%. Resources were better but not spectacular, BHP up 1.0%, FMG better by 4.3% and RIO up 1.4%. Lithium stocks in demand again, CXO up 3.9%, PLS rose 3.9% and MIN up 3.4%. Gold miners were ignored, energy stocks mixed. 
• In corporate news, POS returned with a government grant to build a new plant in WA, up 9.2%. 
• On the economic front, headline unemployment came in at 4% putting more pressure on the RBA to lift rates, shows what happens when immigration and international students are blocked. Asian markets firm again with Chinese tech stocks surging as authorities back the sector. HK up 5.8% Japan up 3.2% and China up 3.2%. 10-year bonds back to 2.52%.

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