By Oliver Gray
Investing.com - The ASX closed Monday's session lower, dropping 20.30 points or 0.28% to 7,299.80 and tracking Wall Street's losses on Friday as rising long term bond yields and a stronger Greenback sapped risk sentiment, with investors confident that the Fed will announce a tapering of its massive bond-buying next month despite weaker than expected U.S. payrolls figures .
In coronavirus news, New south Wales tallied 496 fresh cases today as residents celebrated the easing of restrictions after more than 100 days in lockdown as the state hit its vaccination targets. Meantime, Victoria added 1612 cases, as the state remains on track to ease restrictions later this month.
Among stocks, mining heavyweights were also up after Iron ore rebounded 5.4% overnight, with Rio Tinto Ltd (ASX: RIO ) and BHP Billiton Ltd (ASX: BHP ) gaining 1.84% and 0.9% respectively. Fortescue Metals Group Ltd (ASX: FMG ) also lifted 5.47% after announcing that it is constructing the world’s largest electrolyser, renewable industry and equipment manufacturing centre at Gladstone in Queensland. Meantime, Star Entertainment Group Ltd (ASX: SGR ) has lost 22.9% after the company regjected claims of money laundering, foreign interference, fraud and organised crime at its NSW and Queensland casinos. Crown Resorts is also down 3.36% and SkyCity Entertainment is down 4.24%.
In New Zealand, the NZX 50 moved 67.23 points or 0.91% lower to 13019.37.
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