ASX 200 opens marginally lower; what’s weighing on the index?

  • February 23, 2021 09:15 AM AEDT
  • Ashish
    Financial Journalist Ashish
    46 Posts

    Ashish is a Financial Journalist with an experience of nearly 9 years in the field of economy, stock market and foreign affairs. He has also spent a few years in the corporate sector. A mechanical engineer with post-graduation in marketing and operat...

ASX 200 opens marginally lower; what’s weighing on the index?

Source :Shutterstock

Summary

  • Australia’s benchmark equity index ASX 200 opened marginally lower on Tuesday after US stock markets closed mixed weighed by traditional blue-chip stocks.
  • The index has lost 2.04 per cent for the last five days, but has gained 2.87 per cent over the last year to date.
  • While Metal & Mining was up 0.112 per cent, information technology was down 1.495 per cent.
Gold MTF non-AMP

Australia’s benchmark equity index ASX 200 opened marginally lower on Tuesday, down 4.60 points to 6776.30, after US stock markets closed mixed weighed by traditional blue-chip stocks.

On Monday, the S&P 500 closed down 0.77 per cent to 3876.50. The Dow Jones Industrial Average was up 0.09 per cent to 31521.69. The tech-heavy NASDAQ Composite Index was down 2.46 per cent to 13533.05 and the small-cap Russell 2000 ticked down 0.69 per cent to 2251.09.

Image Source: © Cmmeraydave | Megapixl.com

Who gained, who lost

Costa Group Holdings (up 12.97 per cent) and Webjet Ltd (up 8.92 per cent) were among top gainers in the opening trade on the ASX 200. The laggards were Appen Ltd and Ansell Ltd, down 4.77 per cent and 4.43 per cent, respectively.

How ASX 200 performed in the last five days

The index has lost 2.04 per cent for the last five days, but has gained 2.87 per cent over the last year to date. On Monday, the ASX 200 closed at 6,780.90, down 12.90 points or 0.19 per cent. The broader All Ordinaries index was down 0.076 per cent while the ASX 200 VIX Index was down 2.131 per cent.

While Metals & Mining was up 0.112 per cent, Information Technology was down 1.495 per cent.

Image Source: © Cmmeraydave | Megapixl.com

How Australian Dollar, Oil and Bitcoin performed

AUD/USD was trading up 0.41 per cent at 0.7915.

READ MORE: US Markets End Lower, Weighted Down By Tech Stocks, Consumer Cyclicals

WTI Crude Oil (Futures) rallied by 4.89 per cent to US$62.16 a barrel.

The Australian government’s 10-year bond yields stood at 1.628 per cent, up 2.1 per cent.

After rallying past US$58,300, Bitcoin crashed over 15 per cent on Monday as US Treasury Secretary Janet Yellen called the popular cryptocurrency “highly speculative” and “inefficient” for the transaction. Bitcoin was trading down nearly 6 per cent to US$54,122.79. The other virtual currencies such as Ethereum also plunged over 20 per cent in a day on high volumes.

READ MORE: Here’s how SECOS (ASX:SES) made small profits 

 

 


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