ASX News: Australian Shares Trade in Red, US Market at One-Month Low

  • October 29, 2020 03:52 PM AEDT
  • Team Kalkine
    Team Kalkine
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ASX News: Australian Shares Trade in Red, US Market at One-Month Low

Summary

  • With the ongoing rise in the number of COVID-19 cases in the US and the other parts of the world, Wall Street ended the 28 October session in the red zone.
  • The impact was also due to the US Government’s inability to reach a deal to pass a new fiscal bill before the election.
  • European countries like Germany and France have announced a lockdown for one month.

On 28 October 2020, Wall Street ended the session in the red zone due to the rising COVID-19 cases in the US coupled with the concerns related to the upcoming presidential election. The number of coronavirus cases is consistently rising in the US and other parts of the world.

Further, the US Government has not yet reached a deal to pass a new fiscal bill before the election. Due to these reasons, a significant fall was noted at the Wall Street, with Dow Industrial ending the session at 3.43% below its previous close, settling at 26,519.95, S&P 500 slipped by 3.53% to 3271.03, NASDAQ Composite dropped by 3.73% to 11004.87, and NASDAQ-100 slid by 3.93% to 11142.76. With this drop, the US indices are currently at a one-month low.

The rise in the COVID-19 cases has impacted the global market as well, while the oil and gold prices were also considerably lower. In Europe, Germany and France have declared lockdown for a month.

ASX Performance with the Market Open on 29 October:

On 29 October 2020, most indices on ASX started trading in the red zone. At AEST 1:42 PM, most indices were down by more than 1%. Benchmark index had slipped by 1.53% and positioned at 5965. The index has gone back to the level that existed in the first week of October 2020.

A significant drop of 4.783% was seen in the S&P/ASX All Ordinaries Gold (Sub Industry) index. Sectors which dropped over 2% include All Technology Index, Resources, metals and mining, materials, and Information Technology.

Top Movers (As at AEST 1:42 PM):

  • Whitehaven Coal Limited (ASX:WHC): Whitehaven Coal shares are trading at A$1, up 2.564% from the previous close.
  • Adbri Limited (ASX:ABC): Adbri shares are up by 1.896% from its last close and are trading at A$2.955.
  • Boral Limited (ASX:BLD): Boral shares are trading at A$4.65, up 1.750% from the previous close.
  • Coles Group Limited (ASX:COL): The shares are trading at A$17.96, up 1.5830% from the last close.
  • Fisher & Paykel Healthcare Corporation Limited (ASX:FPH): Fisher & Paykel Healthcare shares are trading at A$34.540, up 1.887% from the last close.

Top Looser (As at AEST 1:42 PM):

  • Westgold Resources Limited (ASX:WGX): Westgold Resources shares are trading at A$2.560, down 8.897% from the previous close.
  • Ramelius Resources Limited (ASX: RMS): Ramelius Resources shares are trading at A$1.935, down 6.068% from the previous close.
  • JB HI-FI Limited (ASX:JBH) shares are trading at A$47.590, down 5.763% from the last close.
  • Seek Limited (ASX:SEK): Seek Limited shares are trading at A$21.510, down 5.906% from the last close.
  • Northern Star Resources Ltd (ASX:NST): Northern Star shares are trading at A$14.890, down 5.641% from the last close.

 

 


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