Overseas market uncertainty hurt Australia’s market

Overseas market uncertainty hurt Australia’s market

Mixed results in the US market led the ASX market into trouble. On Thursday at noon, the S&P/ASX200 index was down from 17.5 points, while the ordinary stocks dropped by 22.5 points and stood at 7,219.7.

The technology firms stood on top of the loss list. The major tech firms in the ASX200, Wisetech, and Xerox dropped 2.5%. Unlike other sectors, the health sector raised by 1.2%, where Australian medical diagnostics topped the list in the health sector.

Rhythm Biosciences rose to $5.20 (13%). The approval of abstracts for the research on colon cancer diagnostic tests by the American Society of Clinical Oncology helped its share price to rise. The NAB leads the losses list in the banking sector, which dropped by 0.64%.

The Reserve Bank of Australia’s report on Financial Stability for April showed positive stats for the country’s banks, showing a strong position despite financial instability worldwide. The Australian dollar was priced at 67.02 US cents which earlier was priced at 67.32 US cents at Wednesday’s ASX close.

- Published By Team Australia News

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