Are you keeping a close eye on the ASX 200 Index? Well, on Tuesday morning, it fell by 0.45%, with losses from the banking, gold, and mining sectors contributing to the overall drop. Mining giants BHP Group Ltd. (BHP) and Rio Tinto Ltd. (RIO) saw declines of 2.42% and 2.60%, respectively, possibly due to investors taking profits as iron ore prices continued to rise, thanks to China’s policy measures.
The market also saw a decrease in demand for Aussie banks, with Commonwealth Bank of Australia (CBA) and Westpac Banking Corp. (WBC) experiencing losses of 0.89% and 1.02%. Powell’s impact was also felt on spot gold prices, with Northern Star Resources (NST) down 0.72%.
As traders pay close attention to central banks, it’s crucial to stay informed with the latest news, real-time data, and expert commentary to adjust trading strategies accordingly. At Extreme Investor Network, we provide you with the most up-to-date news and analysis to help you navigate the Asian equity markets.
In other news, the Hang Seng Index and Mainland China markets were closed on Tuesday for the National Day holidays. While trading paused in these markets, it’s important to stay updated on any developments that may affect your trading decisions.
Stay tuned to Extreme Investor Network for all the essential insights and analysis you need to stay ahead in the stock market game.