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ASX 200 snaps 3 sessions of loss as tech bounces

Published 15/03/2023, 04:37 pm
© Reuters.
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By Oliver Gray 

Investing.com - The ASX 200 added 60 points or 0.9% to 7,068.9 during Wednesday's trade, snapping 2 session of consecutive declines and lifting from 10-week lows as risk sentiment returned to the market as easing inflation data eased concerns following the collapse of several U.S. banks.

Among stocks, Information Technology led the gains, adding 2.4% collectively as Block Inc (ASX:SQ2) gained 3.9% and Xero Ltd (ASX:XRO) lifted 4%.

Materials also registered gains as Rio Tinto Ltd (ASX:RIO) added 1.7%, BHP Group Ltd (ASX:BHP) gained 1.2%, Fortescue Metals Group Ltd (ASX:FMG) lifted 1.3% and Champion Iron Ltd (ASX:CIA) added 3.4%.

Financials also lifted 0.9% with National Australia Bank Ltd (ASX:NAB) up 0.8%, Westpac Banking Corp (ASX:WBC) gaining 1.1%, Commonwealth Bank Of Australia (ASX:CBA) lifting 0.1%, Macquarie Group Ltd (ASX:MQG) up 0.9% and ANZ Group Holdings Ltd (ASX:ANZ) 1.1%.

On the bond markets, Australia 10-Year rates were at 3.444%, while Australia 2-Year rates were at 3.227%.

In New Zealand, the NZX 50 added 0.2% to 11,617.3.

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