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ASX Market Update 2022-09-01

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SP/ASX 200 largely fell -2% (-141 pts), closed at 6846 points, the worst % loss in more than 2 months, also a 25-day low, crossed below MA50 (6853 pts).

Among the 150 largest-cap stocks, 19 (13%) closed higher. Only 27% of all ASX stocks ended higher.

In terms of sectors, 1 sector closed up, 11 sectors closed down, ranging from -4.5% to 0.7%. 8 sectors outperformed the market. The market was down -1.9%; Consumer Defensive was up 0.7%, the best performer, reflecting a decreasing risk appetite; Basic Materials was down -4.5%, the worst performer.

● YANCOAL AUSTRALIA (YAL) largely rebounded 4.8% (+$0.28), closed at $6.16, hit a YTD high. The best performer with a slight increase in volume.

● EVOLUTION MINING (EVN) largely retreated -8.4% (-$0.2), closed at $2.19, the worst % loss in 2 months, also hit a YTD low. The worst performer with a slight increase in volume.

● BHP GROUP (BHP) plummeted -7.6% (-$3.09), closed at $37.51, fell 4 days in a row, the worst % loss in more than 3 months, also a 27-day low, crossed below MA20 and MA50 ($40.39, $39.33).

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