The Australian equity benchmark ASX 200 opened lower on Thursday, down 9 points or 0.13 per cent to 6,809, after tech stocks pulled down three major Wall Street indices overnight as another surge in bond yields concerned investors. The longer-dated Treasury bond yields were up nearly 1 per cent from a year ago period. The broader equities market was also under pressure due to mixed economic data.
On Wednesday, the S&P 500 was down 1.31 per cent to 3,819.72. The Dow Jones Industrial Average was down 0.39 per cent to 31,270.09. The tech-heavy NASDAQ Composite Index dropped 2.70 per cent to 12,997.75, and the small-cap Russell 2000 shed 1.06 per cent to 2,207.80.
On Wednesday, the ASX 200 closed at 6,818, up 55.70 points or 0.82 per cent following a better than expected GDP data for the fourth quarter. Australia’s GDP rose by 3.1 per cent in Q4. The tech stocks would be under investors’ radar throughout the day.
Who gained, who lost Ramelius Resources Ltd (up 13.69 per cent) and Nufarm Ltd (up 7.60 per cent) were among the top gainers. The laggards were Domain Holdings Australia Ltd and Deterra Royalties Ltd, down 3.64 per cent and 3.56 per cent, respectively.
While ASX 300 Metals and Mining was up 3.507 per cent, ASX 200 Real Estate was down 0.084 per cent.
Australian Dollar, Bonds, Oil and Bitcoin