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ASX Market Update 2023-02-16

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SP/ASX 200 rebounded 0.8% (+58.3 pts), closed at 7410 points, the best % gain in 1 month.

Among the 150 largest-cap stocks, 114 (76%) closed higher. 63% of all ASX stocks ended higher.

In terms of sectors, 9 sectors closed up, 2 sectors closed down, 1 sector remained unchanged, ranging from -0.8% to 5.9%. 6 sectors outperformed the market. The market was up 1%; Technology was up 5.9%, the best performer, reflecting an increasing risk appetite; Energy was down -0.8%, the worst performer.

● ANGLOGOLD ASHANTI (AGG) tanked -5% (-$0.28), closed at $5.37, the worst % loss in more than 5 months, also hit a YTD low. The largest increase in volume.

● ORORA (ORA) surged 14.8% (+$0.43), closed at $3.33, hit a YTD high, crossed above MA20, MA50 and MA200 ($3, $2.99, $3.25). The best performer with a huge increase in volume.

● SONIC HEALTHCARE (SHL) spiked 14.2% (+$4.14), closed at $33.2, rose 3 days in a row, the best % gain in more than 185 months, also hit a YTD high, crossed above MA20, MA50 and MA200 ($30.74, $30.6, $32.34).

● ABACUS PROPERTY GROUP (ABP) surged 7.4% (+$0.21), closed at $3.06, rose 3 days in a row, the best % gain in more than 34 months, also hit a YTD high.

● AMP (AMP) sank -13.4% (-$0.175), closed at $1.135, the worst % loss in 43 months, also hit a YTD low, crossed below MA200 ($1.19). The worst performer with a huge increase in volume.

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