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ASX Market Update 2022-11-08

360MiQ 0

SP/ASX 200 rose 0.4% (+24.9 pts), closed at 6959 points, rose 3 days in a row.

Among the 150 largest-cap stocks, 85 (57%) closed higher. 52% of all ASX stocks ended higher.

In terms of sectors, 8 sectors closed up, the market internal was more positive, 3 sectors closed down, 1 sector remained unchanged, ranging from -1.9% to 1%. 5 sectors outperformed the market. The market was up 0.3%; Consumer Defensive, Financial, Technology were up 1%, the best performers, reflecting a decreasing risk appetite; Energy was down -1.9%, the worst performer.

● MINERAL RESOURCES (MIN) surged 4.9% (+$3.73), closed at $79.11, rose 3 days in a row, the best % gain in 1 month, also hit a record high. The best performer but with average volume.

● FLETCHER BUILDING (FBU) largely fell -2.6% (-$0.12), closed at $4.57, is testing MA50 ($4.57). The largest increase in volume.

● PILBARA MINERALS (PLS) spiked 4.4% (+$0.23), closed at $5.43, rose 3 days in a row, hit a record high.

● THE LOTTERY (TLC) largely rose 4% (+$0.17), closed at $4.47, a 45-day high.

● JAMES HARDIE INDUSTRIES (JHX) largely retreated -13.7% (-$4.58), closed at $28.81, the worst % loss in more than 31 months, also hit a YTD low, crossed below MA20 and MA50 ($32.8, $32.75). The worst performer with a huge increase in volume.

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