ASX Closes 0.9% Lower, But Finishes 2021 13% Higher

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ASX Closes 0.9% Lower, But Finishes 2021 13% Higher
Credit: © Reuters.

By Oliver Gray - The ASX 200 lost 68.80 points or 0.92% to 7,444.60 on Friday’s trade, finishing the week 0.33% higher and posting yearly gains of 13.02% as supportive monetary policies and stimulus measures boosted investor sentiment despite protracted lockdowns and the continued spread of coronavirus throughout the year.

Among stocks, the biggest losses were seen in real estate companies as Mirvac Group (ASX: MGR ) closed down 3.32%, Charter Hall Group (ASX: CHC ) lost 0.48%, Goodman Group (ASX: GMG ) fell 1.71%, Stockland Corporation Ltd (ASX: SGP ) fell 2.97% and Scentre Group Ltd (ASX: SCG ) lost 1.56%.

Tech stocks also fell as Appen Ltd (ASX: APX ) lost 1.06%, Megaport Ltd (ASX: MP1 ) dipped 1.12%, Novonix Ltd (ASX: NVX ) lost 1.08% Nextdc Ltd (ASX: NXT ) fell 0.78% and Iress Ltd (ASX: IRE ) shed 3.55%.

Financials were also in the red as Macquarie Group Ltd (ASX: MQG ) fell 0.95%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) dipped 1.11%, Commonwealth Bank Of Australia (ASX: CBA ) lost 1.24%, National Australia Bank Ltd (ASX: NAB ) shed 1.64%, and Westpac Banking Corp (ASX: WBC ) eased 0.7%.

Mining stocks saw some outperformers, with Magnis Resources Ltd (ASX: MNS ) surging 11.65% and Avz Minerals Ltd (ASX: AVZ ) advancing 1.31%. Gold miners also finished higher with Newcrest Mining Ltd (ASX: NCM ) up 0.95%, Northern Star Resources Ltd (ASX: NST ) adding 1.18%, Perseus Mining Ltd (ASX: PRU ) up 0.31%, Chalice Gold Mines Ltd (ASX: CHN ) adding 0.95%, and Evolution Mining Ltd (ASX: EVN ) gaining 0.74%.

On the bond markets, Australia 10-Year yields were at 1.676% while United States 10-Year rates held around 1.512%.

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