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ASX 200 Rallies 2.1% as Falling Yields Boost Risk Sentiment

Stock Markets Oct 04, 2022 11:05
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By Oliver Gray 

Investing.com - The S&P/ASX 200 added 137.3 points or 2.1% after the first hour of Tuesday’s trade, returning from a public holiday yesterday and tracking gains among U.S. equities amid rising commodity prices and falling bond yields.

ASX 200 Futures were pointing 0.6% higher.

Among stocks, Materials led the gains, adding 2.9% as Rio Tinto Ltd (ASX:RIO) lifted 2.2%, BHP Group Ltd (ASX:BHP) gained 2.3%, Fortescue Metals Group Ltd (ASX:FMG) lifted 1.4% and Champion Iron Ltd (ASX:CIA) gained 5%.

Financials lifted 2.3% with Macquarie Group Ltd (ASX:MQG) and Australia and New Zealand Banking Group Ltd (ASX:ANZ) adding 2.8% apiece, Westpac Banking Corp (ASX:WBC) up 2.6%, while National Australia Bank Ltd (ASX:NAB) and Commonwealth Bank Of Australia (ASX:CBA) advanced 2.2% each.

Information Technology was up 2.5% as Block Inc (ASX:SQ2) lifted 1.2%, Appen Ltd (ASX:APX) gained 2.3%, Megaport Ltd (ASX:MP1) lifted 2.8% and Link Administration Holdings Ltd (ASX:LNK) gained 0.7%.

On the bond markets, Australia 10-Year yields were at 3.732% while United States 10-Year yields were at 3.615%.

In New Zealand, the NZX 50 added 1% to 11,065.5.

ASX 200 Rallies 2.1% as Falling Yields Boost Risk Sentiment
 

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