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ASX 200 finishes 0.8% Lower as Yields Rise

Published 02/06/2022, 04:55 pm
Updated 02/06/2022, 04:59 pm
© Reuters.

© Reuters.

By Oliver Gray 

Investing.com - The S&P/ASX 200 fell 58.10 points or 0.80% to 7,175.9 during Thursday’s trade, with Technology companies leading declines as yields moved higher.

Among stocks, Block Inc (ASX:SQ2) fell 5%, Megaport Ltd (ASX:MP1) shed 6%, Appen Ltd (ASX:APX) dropped 1.7%, Novonix Ltd (ASX:NVX) lost 1.4%, Brainchip Holdings Ltd (ASX:BRN) fell 3.6% and Xero Ltd (ASX:XRO) lost 3%.

Health Care declined 1.8% collectively, as CSL Ltd (ASX:CSL) lost 1.8%, Sonic Healthcare Ltd (ASX:SHL) fell 2.4%, Fisher & Paykel Healthcare Ltd (ASX:FPH) lost 1%, Ramsay Health Care Ltd (ASX:RHC) fell 1.4% and Resmed Inc (ASX:RMD) lost 1.3%.

Telecommunications fell 1.2% overall as Rea Group Ltd (ASX:REA) dropped 3.3%, Domain Holdings Australia Ltd (ASX:DHG) lost 45, Seek Ltd (ASX:SEK) fell 2.3% and Telstra Corporation Ltd. (ASX:TLS) lost 1%.

Energy bucked the overall trend however, up 3.1% with Woodside Energy Ltd (ASX:WDS) gaining 5.2%, Santos Ltd (ASX:STO) adding 1.6% and Beach Energy Ltd (ASX:BPT) lifting 1.7%.

Bubs Australia Ltd (ASX:BUB) also gained 6% after securing a deal to send more than a million tins to the United States to ease a nationwide shortage.

In New Zealand, the NZX 50 fell 0.2% to 11,349.5.

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