Market Updates

End of Day Report – Wednesday 7th August - ASX finishes up 19 at 7700 - US Futures better - Tokyo Continues to Bounce on BoJ comments


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ASX 200 bounces 19 points to 7700 (+0.3%) as risks start to recede. Soothing words from a BoJ Deputy helped things along.  Banks struggled or we would have been higher. ANZ up 0.2% on a broker upgrade, the Big Bank Basket slid to $217.06 (-0.4%). Insurers did better, and market stocks like GQG also did well. A FUM update from this one helped too. Healthcare better, led by CSL up 0.7% and SHL up 0.4%. REITs rebounded too, GMG leading the charge, up 0.7% and GPT up 3.4%. Industrials firm, TLS up 1.3% and WES bouncing 0.7% with tech better too. WTC up 0.5% with the All-Tech Index up 0.68%. Mixed session for resources, the 'Three Amigos', BHP, RIO and FMG, eased but lithium plays saw buyers. PLS saw some short covering together with buyers for MIN and S32. Oil and gas major WDS better on positive broker commentary after its ammonia buy. Uranium stocks also bounced from oversold levels, DYL up 1.0% and PDN up 1.2%. In corporate news, LTM is up 7.5% on its update and strategy review. WGX began trade as a dual-listed company following its Canadian merger. In economic news, China announced a better-than-expected import number as it appears to be restocking before US chip bans; Asian markets rallied, with Japan up another 2.3%, and HK up 1.7%, with China +0.4. 10-year yields around 4.08%. Dow Futures up 222 points. NASDAQ Futures up 154 points.

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