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ASX Market Update 2022-05-27

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SP/ASX 200 rose 1.1% (+76.7 pts), closed at 7183 points, rose 0.5% (+37 pts) for the week, rose 2 weeks in a row, crossed above MA20 (7156 pts).

Among the 150 largest-cap stocks, 113 (75%) closed higher. 59% of all ASX stocks ended higher.

In terms of sectors, 11 sectors closed up, 1 sector closed down, ranging from -0.3% to 3.1%. 5 sectors outperformed the market. The market was up 1%; Technology was up 3.1%, the best performer, reflecting a more aggressive market sentiment; Utilities was down -0.3%, but already the worst performer.

● BLOCK (SQ2) spiked 5.9% (+$6.51), closed at $117.1, fell -8.3% (-$10.54) for the week. The best performer today with a slight decrease in volume.

● INFRATIL (IFT) retreated -1.1% (-$0.08), closed at $7.27, fell -1.1% (-$0.08) for the week. The largest increase in volume today.

● CONTACT ENERGY (CEN) plunged -6.5% (-$0.46), closed at $6.65, the worst % loss in 9 months, also hit a YTD low, fell -4.3% (-$0.3) for the week, crossed below MA20 ($7.04). The worst performer today with a slight increase in volume.

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