ASX 200 today: Will tech stocks continue to lift market sentiment despite weak Wall Street?


  • The ASX 200 opened in negative territory on Friday after US stocks ended mixed overnight as investors weighed new guidance by the Federal Reserve.
  • However, the market soon recovered, boosted by tech stocks.
  • On Wall Street, the Dow Jones fell 0.6%, the S&P 500 edged lower, and NASDAQ stormed 0.9% higher.

The ASX 200 opened in negative territory on Friday, down 11.80 points or 0.16% at 7,347.20, after US stocks ended mixed overnight as investors weighed new guidance by Federal Reserve.

However, the market soon recovered and by 10:30 AM (AEST), the ASX 200 was trading 0.18% higher, at 7,372.50, boosted by tech stocks.

On Thursday, the Australian shares closed lower on Thursday, led by a fall in mining and energy stocks. The benchmark ended 0.37% lower, at 7,359.

On Wall Street, the Dow Jones fell 0.6%, the S&P 500 edged lower, and the NASDAQ stormed 0.9% higher overnight. The tech-heavy NASDAQ neared a record high on Thursday.

Source: © Ene  |

How did ASX 200 move so far?

The tech stocks gained after NASDAQ closed higher. Afterpay was up 4.8%, Xero climbed 2.7%, TechnologyOne advanced 3.4%, Appen rose 3.4% and WiseTech Global surged 2.5%

While Tech was up 4%, Health Care jumped 1.5%. Communication Services was up 2.2%.

However, the mining sector traded on a weak note. Newcrest Mining was down 4%, Northern Star dropped 3.4%, BHP fell 2.4% and Oz Minerals dipped 3.6%. Energy was also down 1.5%.

The broader All Ordinaries index was up 0.204%, while the ASX 200 VIX Index was down 0.671%.

Source: ASX website; as of 10:30 AM (AEST)

Australian dollar and bond yields

The Australian dollar was trading 0.03% higher, at 0.7559. The dollar index was up 0.53% at 91.892, its highest level since mid-April.

The Australian 10-year bond yield was trading 2.60% lower, at 1.573. The benchmark US 10-year yields were last at 1.511%, after hitting a high of 1.594% on Wednesday.

READ MORE: Is AGL Energy (ASX:AGL) undervalued?

Commodity update

Crude oil prices fell overnight due to pressure from the strengthening US dollar. Brent crude slipped 2% to US$72.93 per barrel, while WTI crude fell nearly 1.8% to US$70.86 a barrel.

The WTI crude oil futures were trading 0.14% lower, at US$70.94.

Source: © Pichitbo   |

Gold shed over 2%, participating in a sell-off across precious metals, with palladium losing a massive 11.1%, its worst day in over a year. Spot gold fell 2% to US$1,776.10 an ounce by 1:44 PM EDT.

The gold futures were trading 0.23% higher, at US$1,778.95.

Metals’ update

The most actively traded iron ore futures for a September month delivery increased by 1.0% to 1,224 yuan (US$190.31) a tonne at close.

The three-month copper futures contract on the London Metal Exchange (LME) saw a sizable fall of 4% to US$9,285 a tonne by 1600 GMT.

The copper futures were trading 0.50% higher, at US$4.1928.

READ MORE: Interested in Dividends? Here are three ASX-listed stocks to look for


Telstra (ASX:TLS) announced that it would complete its delisting from the main board of the New Zealand Exchange at the close of business on Friday.

BetMakers (ASX:BET) said that it had completed its acquisition of Sportech’s racing, tote and digital assets in the US, the UK, and Europe.


The Opening Bell || Will Tech Stocks Continue To Lift Market Sentiment Despite Weak Wall Street?


Bubs Australia (ASX:BUB) would launch its branded formula range on

Altium (ASX:ALU) has lowered its guidance and said it expected revenue for FY2021 to be at the low end of the guidance range of US$190 million to US$195 million.

Sandfire Resources (ASX:SFR) has delivered its highest-value shipment of copper concentrate from its DeGrussa operations in Western Australia.

READ MORE: Which are the top 10 ASX-listed dividend stocks by dividend yield?





Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK