ASX 200 Snaps 3 Sessions of Decline

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ASX 200 Snaps 3 Sessions of Decline
Credit: © Reuters.

By Oliver Gray

Investing.com - The ASX 200 lifted in Thursday’s deals, adding 60.20 points or 0.83% to 7,332.70, snapping 3 sessions of consecutive losses as market participants moved back into technology stocks amid easing long term bond yields, but gains were limited after data released from the U.S. Labor Department showed that consumer prices increased solidly in September.

In coronavirus news, New South Wales recorded 406 new cases today as Premier Dominic Perrottet noted that the state is likely to reach its 80% double-dose vaccination target over the weekend, allowing restrictions to ease further on Monday. Meanwhile, Victoria recorded a new national record of 2297 cases today as Premier Daniel Andrews stressed that today's case numbers would not affect the state's roadmap to reopening, with the state set to hit its 70% full-vaccination target next week.

Among stocks, mining heavyweights moved higher, with Rio Tinto Ltd (ASX: RIO ) up 0.83%, BHP Billiton Ltd (ASX: BHP ) adding 1.04% and Fortescue Metals Group Ltd (ASX: FMG ) adding 1%. Technology names also gained as long term bond yields eased, with Afterpay Touch Group Ltd (ASX: APT ) lifting 3.06%, Appen Ltd (ASX: APX ) up 2.39% and Wisetech Global Ltd (ASX: WTC ) gaining 3.79%.

ASX 200 Futures futures were up 17 points or 0.23%.

On the bond markets, Australia 10-Year yields were at 1.666% while United States 10-Year rates eased to 1.553%.

In New Zealand, the NZX 50 lost 84.57 points or 0.65% to 13109.75.

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