ASX 200 finishes 0.8% Lower as Yields Rise

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ASX 200 finishes 0.8% Lower as Yields Rise
Credit: © Reuters.

By Oliver Gray 

Investing.com - The S&P/ASX 200 fell 58.10 points or 0.80% to 7,175.9 during Thursday’s trade, with Technology companies leading declines as yields moved higher.

Among stocks, Block Inc (ASX: SQ2 ) fell 5%, Megaport Ltd (ASX: MP1 ) shed 6%, Appen Ltd (ASX: APX ) dropped 1.7%, Novonix Ltd (ASX: NVX ) lost 1.4%, Brainchip Holdings Ltd (ASX: BRN ) fell 3.6% and Xero Ltd (ASX: XRO ) lost 3%.

Health Care declined 1.8% collectively, as CSL Ltd (ASX: CSL ) lost 1.8%, Sonic Healthcare Ltd (ASX: SHL ) fell 2.4%, Fisher & Paykel Healthcare Ltd (ASX: FPH ) lost 1%, Ramsay Health Care Ltd (ASX: RHC ) fell 1.4% and Resmed Inc (ASX: RMD ) lost 1.3%.

Telecommunications fell 1.2% overall as Rea Group Ltd (ASX: REA ) dropped 3.3%, Domain Holdings Australia Ltd (ASX: DHG ) lost 45, Seek Ltd (ASX: SEK ) fell 2.3% and Telstra Corporation Ltd. (ASX: TLS ) lost 1%.

Energy bucked the overall trend however, up 3.1% with Woodside Energy Ltd (ASX: WDS ) gaining 5.2%, Santos Ltd (ASX: STO ) adding 1.6% and Beach Energy Ltd (ASX: BPT ) lifting 1.7%.

Bubs Australia Ltd (ASX: BUB ) also gained 6% after securing a deal to send more than a million tins to the United States to ease a nationwide shortage.

In New Zealand, the NZX 50 fell 0.2% to 11,349.5.

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