ASX 200 starts the week lower amid financial volatility
Investing.com
Published Mar 20, 2023 11:46
Updated Mar 20, 2023 11:58
By Oliver Gray
Investing.com - The S&P/ASX 200 fell 18 points or 0.3% to 6,976.8 during after the first two hours of Monday's session, trading at 2-month lows as market participants monitor ongoing financial fallout amid a string of recent banking failures.
ASX 200 Futures were pointing 1.1% higher.
Among stocks, real estate was down 1.3% with Goodman Group (ASX:GMG) dipping 1.2%, Charter Hall Group (ASX:CHC) down 2.3%, Mirvac Group (ASX:MGR) falling 1.4% and Stockland Corporation Ltd (ASX:SGP) down 2.1%.
Information Technology declined 1.2% with Block Inc (ASX:SQ2) down 1.6%, Appen Ltd (ASX:APX) falling 0.4% and Megaport Ltd (ASX:MP1) losing 2%.
Energy lost 1.1% collectively amid lower oil prices. Woodside Energy Ltd (ASX:WDS) lost 1%, Santos Ltd (ASX:STO) dipped 0.4%, Beach Energy Ltd (ASX:BPT) lost 0.4% and Viva Energy Group Ltd (ASX:VEA) fell 2.6%.
Ahead in the week, market participants will be looking towards RBA's latest meeting minutes amid growing expectations for a pause as policymakers weigh increasing mortgage stress, easing inflation pressures and a slow-moving financial contagion as well as manufacturing and services PMIs.
On the bond markets, Australia 10-Year rates were at 3.354% while Australia 2-Year rates were at 3.058%.
In New Zealand, the NZX 50 fell 106.4 points or 0.9% to 11,619.3.
If you would like to improve your market knowledge and decision making in these times of increased volatility, don't forget to check out Jesse Cohen's upcoming webinar:
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Written By: Investing.com
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