Breaking News
Investing Pro 0
🚨 Our Pro Data Reveals the True Winner of Earnings Season Access Data

Australian shares start the week 0.5% lower, Chinese protests grow

Stock Markets Nov 28, 2022 11:18
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
AXJO
-0.36%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
AUS200
+0.03%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
S32
-1.48%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
CIA
-0.95%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
MCY
+5.45%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
NZ50
-0.53%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Oliver Gray 

Investing.com - The S&P/ASX 200 dropped 33.3 points or 0.5% to 7,226.2 after the first 80 minutes of Monday’s trade, partially retracing gains of 1.5% in the previous week as investor confidence was soured amid growing protests in China as President Xi Jinping maintains a stringent zero-covid policy in the face of a fresh wave of infections.

ASX 200 Futures were trading 0.2% lower.

Among stocks, Materials led the declines, falling 1% as unrest in China dampened appetite for natural resources. Rio Tinto Ltd (ASX:RIO) lost 1.8%, BHP Group Ltd (ASX:BHP) fell 1%, Fortescue Metals Group Ltd (ASX:FMG) added 0.2% and Champion Iron Ltd (ASX:CIA) dipped 1.5%.

Energy fell 1.1% amid lower oil prices. Santos Ltd (ASX:STO) fell 1.9%, Woodside Energy Ltd (ASX:WDS) lost 1.2%, Beach Energy Ltd (ASX:BPT) fell 2.4% and South32 Ltd (ASX:S32) dipped 1.9%.

Utilities also declined 0.9% collectively, with Origin Energy Ltd (ASX:ORG) down 0.4%, Mercury NZ Ltd (ASX:MCY) falling 4.9%, APA Group (ASX:APA) down 1.2% and AGL Energy Ltd (ASX:AGL) slipping 1.6%.

In company news, Bank Of Queensland Ltd. (ASX:BOQ) shed 6.4% after announcing the departure of chief executive George Frazis. Healius Ltd (ASX:HLS) also retreated 3.1% after reporting a decline revenues amid lower COVID-19 testing volumes.

Ahead in the week, market participants will be closely monitoring upcoming preliminary retail sales data today, building approvals and construction work on Wednesday, AIG manufacturing index and private new capital expenditure on Thursday and monthly home loans reading on Friday.

On the bond markets, Australia 10-Year rates were at 3.602% while United States 10-Year yields were at 3.687%.

In New Zealand, the NZX 50 was down 0.4% to 11,338.4.

Australian shares start the week 0.5% lower, Chinese protests grow
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email