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ASX Market Update 2022-12-29

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SP/ASX 200 fell -0.9% (-65.9 pts), closed at 7020 points, fell 3 days in a row, a 32-day low, crossed below MA50 (7077 pts).

Among the 150 largest-cap stocks, 46 (31%) closed higher. 38% of all ASX stocks ended higher.

In terms of sectors, 2 sectors closed up, 10 sectors closed down, ranging from -3.2% to 1.2%. 7 sectors outperformed the market. The market was down -0.8%; Utilities was up 1.2%, the best performer, reflecting a decreasing risk appetite; Energy was down -3.2%, the worst performer.

● MERIDIAN ENERGY (MEZ) largely rebounded 6.6% (+$0.31), closed at $5.01, the best % gain in more than 9 months, also hit a YTD high, crossed above MA20 ($4.76). The best performer with the largest increase in volume.

● WHITEHAVEN COAL (WHC) tumbled -4.9% (-$0.48), closed at $9.28, fell 4 days in a row, crossed below MA50 ($9.54). The worst performer with a slight increase in volume.

● WOODSIDE ENERGY GROUP (WDS) largely retreated -4.5% (-$1.67), closed at $35.14, the worst % loss in 3 months, crossed below MA20 and MA50 ($35.8, $36.64).

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