Following the lead of the US market which hit new record highs overnight, the local market was strong today with the benchmark ASX200 index ending the day up 0.7%.
All 11 sectors ended the day higher, with Tech stocks and the Industrials sector leading the way.
The market also saw strong support from the FInancial sector, which is now up by more than 4% over the past week and almost 27% over the year.
Leading this sector was CBA which reached a record high just shy of $126 per share and broke through a $200 billion valuation for the first time ever. All big four banks plus Macquarie also ended higher.
Fears around a decline in international students hit Australia’s listed education sector today with the country’s largest provider of international education services, IDP Education Ltd, ending the day down more than 7%.
IDP provided an update on market conditions following recent changes to regulatory settings with management noting that a more restrictive policy environment in its key destination countries has reduced the size of the international student market.
This has negatively impacted the company’s testing and student placement volumes during the second half and led to guidance of flat earnings for the full year.
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