The ASX200 maintained strong form throughout the day, piercing past the 7400 mark in the morning session before wrapping up the trading week on a positive note. This marked the Australian benchmark’s fifth consecutive week of advances.
The healthcare and tech sectors were the main thrusters for the broader surge, as investor appetite for stocks in these spaces drowned out a materials’ decline and financials’ losses driven by inflation jitters.
Infotech remained the session’s star performer in sync with the tech-heavy Nasdaq, as tech stocks such as Zip Co
(ASX:Z1P) and Afterpay
(ASX:APT) to rise 9.9 per cent and 6.4 per cent by the end of trade
NSW authorities has detected a total of three local coronavirus transmissions in Sydney, prompting the state government to implement prevention measures such as mandatory mask wearing on public transports. The pandemic scare has so far unaffected travel stocks, as Corporate Travel Management and Webjet were tracking 5.2 per cent and 5.6 per cent respectively by the close of business.
At the closing bell, the S&P/ASX 200 was 0.13 per cent or 9.90 points higher at 7368.90.
Over the week, the S&P/ASX 200 closed 356.60 or 4.65 per cent higher.
Futures
The Dow Jones futures are pointing to a rise of 17.00 points.
The S&P 500 futures are pointing to a rise of 4.25 points.
The Nasdaq futures are pointing to a rise of 45.00 points.
The SPI futures are pointing to a rise of 7 points when the market next opens.
Best and worst performers
The best-performing sector was Information Technology, up 3.53 per cent. The worst-performing sector was Energy, down 1.90 per cent.
The best-performing stock in the S&P/ASX 200 was Zip Co (ASX:Z1P), closing 9.85 per cent higher at $8.14. It was followed by shares in Mesoblast (ASX:MSB) and PointsBet Holdings (ASX:PBH).
The worst-performing stock in the S&P/ASX 200 was Santos (ASX:STO), closing 3.55 per cent lower at $7.34. It was followed by shares in Newcrest Mining (ASX:NCM) and Oil Search (ASX:OSH).
Asian markets
Japan's Nikkei has lost 0.07 per cent.
Hong Kong's Hang Seng has gained 0.71 per cent.
China's Shanghai Composite has lost 0.13 per cent.
Wall Street
Over the last four trading days, the Dow Jones lost 1.94 per cent, the S&P 500 lost 0.61 per cent and the Nasdaq gained 0.65 per cent.
Commodities and the dollar
Gold is trading at US$1785.25 an ounce.
Iron ore is 3.10 per cent higher at US$220.82 a ton.
Iron ore futures are pointing to a rise of 2.61 per cent.
Light crude is trading $0.30 lower at US$70.74 a barrel.
One Australian dollar is buying 75.40 US cents.
