ASX 200 starts the week off in style with a104-point gain to 7287 (+1.5%). After a strong open, we kicked again into the close with commodity stocks leading the charge. BHP up 2.8%, FMG up 1.3% as China looks at some reopening as case numbers fall. Gold miners up with NCM up 1.1% and NST up 2.6%. Base metal stocks also firm S32 up 3.6% and lithium stocks pushing ahead as battery tech also joins in the fun. MIN up 2.3%, NMT up 4.2% and LTR up 5.3%. Coal stocks mixed with YAL down 7.6% on news of a cheeky bid below market. Oil and gas stocks relatively flat despite oil price gains. Industrials were firm, QAN up 2.8%, TLS up 0.5% and WOW rallying 2.2%. REITs better too, GMG up 2.7% and VCX up 1.1%. Healthcare better as CSL got a flu shot boost from free shots in NSW up 1.9%, SHL up 1.7% and RMD rallying 2.5%. In the tech sector it was game on for BNPL stocks as SQ2 rose 10.9%, ZIP recovered 14.0% and SZL rose 10.6%. WTC and XRO also showing good gains as money rushed back into the tech sector. The All-TechIndex rose 4.0%. Banks were solid as usual, the BigBankBasket up to $188.40 (0.5%). MQG had a good day up 2.8% and other market geared stocks also doing well, MFG up 8.5% and ASX up 1.4%.
In corporate news, AGL fell 1.69% after the demerger plans were scuppered and the chair and CEO have resigned. YAL had its AGM and commented on its Chinese shareholder’s plans. BUB soared 40.2% on news that Biden had called and placed an order. AXE rose 13.9% on good news on biochips.
Nothing on the economic front, Asia markets were firm on Chinese stimulus hopes. Japan up 1.9%, HK up 1.9% and China up 0.2%. 10-year yields steady at 3.25%.
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