By Oliver Gray
Investing.com - The ASX 200 added 13 points or 0.18% to 7407.5 in early deals on Monday, extending fresh record high valuations after gains of 0.63% in the previous week as investors proved optimistic amid second quarter corporate earnings season, while prospects of slower economic growth pushed tech stocks higher.
Meantime, Australia’s domestic COVID-19 situation continues to worsen after New South Wales reported 141 fresh cases on Sunday, as Premier Gladys Berejiklian noted that the government is meeting with health experts through the week to decide on a potential lockdown extension for the state. Meantime, Victoria reported 11 cases on Monday, while Queensland health authorities scrambled to trace the movements of a NSW case that broke quarantine protocols to cross the Queensland border.
Among stocks, Lynas Rare Earths Ltd (ASX:LYC) surged 5.75% after reporting record quarterly revenue amid strong demand for its products, while GPT Group (ASX:GPT) lost 2.32% after withdrawing funds from operation and distribution guidance for FY 2021.
On the bond markets, local 10-year bond yields were at 1.19% while US 10-year rates were at 1.28%.
In New Zealand, the NZX 50 lost 12.34 points or 0.1% to 12723.98.