By Oliver Gray
Investing.com - The ASX 200 added 8 points or 0.11% to 7394.4 on Friday, closing at record high valuations and gaining 0.5% for the week with investors pivoting towards tech and healthcare stocks on prospects of a slower economic recovery as infections of the coronavirus Delta variant continue to accelerate.
New South Wales reported a record 136 COVID-19 cases on Friday, with State health officials further tightening restrictions in Sydney while extending lockdown measures until 30 July. Victoria added 14 fresh cases, while Queensland authorities confirmed that a flight attendant tested positive after travelling on 6 crewed flights.
Further dampening sentiment, New Zealand Prime Minister Jacinda Ardern suspended trans-Tasman travel bubble for two months.
Among stocks, Gold miner Silver Lake Resources Ltd (ASX:SLR) has plunged 8.5% after reporting labour shortages at its Mount Monger mine. Meanwhile, Afterpay Touch Group Ltd (ASX:APT), and Zip Co Ltd (ASX:Z1P) rose 0.81% and 1.43% respectively.
Among local data, preliminary Manufacturing and Services PMI reading plunged as extended lockdown restrictions and accelerating COVID-19 infection rates hit business activity and output.
Local 10-year bond yields fell to 1.197% while US 10-year Treasury bonds yielded 1.278%.
In New Zealand, the NZX 50 added 15.48 points or 0.12% to 12736.32.