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ASX 200 trades at fresh 5-month highs

Stock Markets Nov 24, 2022 11:28
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By Oliver Gray 

Investing.com - The S&P/ASX 200 added 29.5 points or 0.4% to 7,261.3 after the first 90 minutes of Thursday’s trade, extending yesterday’s gains of 0.2% and trading at fresh 5-month highs as market participants tracked a positive close on Wall Street overnight amid easing yields and a weaker US Dollar Index.

ASX 200 Futures were pointing 0.2% higher.

Among stocks, gains were led by Materials, up 1% as Rio Tinto Ltd (ASX:RIO) added 0.9%, BHP Group Ltd (ASX:BHP) gained 1.6% and Fortescue Metals Group Ltd (ASX:FMG) added 1.3%. Gold miners also rallied with St Barbara Ltd (ASX:SBM) up  8.7%, Chalice Gold Mines Ltd (ASX:CHN) lifting 5.9%, Evolution Mining Ltd (ASX:EVN) up 6.2%.

The rates sensitive Technology and Real estate sectors also gained 1.6% and 1%, respectively. Novonix Ltd (ASX:NVX) lifted 3.8%, Brainchip Holdings Ltd (ASX:BRN) added 1.4%. Altium Ltd (ASX:ALU) gained 1.3% and Wisetech Global Ltd (ASX:WTC) lifted 2.6%. Meantime, Goodman Group (ASX:GMG) added 1.4%, Charter Hall Group (ASX:CHC) gained 0.6%, Stockland Corporation Ltd (ASX:SGP) lifted 1.6% and Scentre Group Ltd (ASX:SCG) added 0.5%.

In company news, Kogan.com Ltd (ASX:KGN) popped 10.2% after reporting that selling of excess inventory has left the company a positive cash position.

Harvey Norman Holdings Ltd (ASX:HVN) fell 1.7% after delivering a trading update which revealed an increase of 6.9% in sales revenue for the period July 1 to October 31 when compared to the previous period.

On the bond markets, Australia 10-Year rates were at 3.579% while United States 10-Year yields were at 3.689%.

In New Zealand, the NZX 50 lost 0.2% to 11,297.8.

ASX 200 trades at fresh 5-month highs
 

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