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ASX Market Update 2023-02-28

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SP/ASX 200 rebounded 0.5% (+33.4 pts), closed at 7258 points, fell -2.9% (-219 pts) for the month.

Among the 150 largest-cap stocks, 97 (65%) closed higher. 58% of all ASX stocks ended higher.

In terms of sectors, 8 sectors closed up, 4 sectors closed down, ranging from -0.7% to 1.5%. 5 sectors outperformed the market. The market was up 0.4%; Basic Materials was up 1.5%, the best performer; Consumer Cyclical was down -0.7%, the worst performer.

● MINERAL RESOURCES (MIN) largely rebounded 3.8% (+$3.06), closed at $82.56, the best % gain in 1 month, fell -7.2% (-$6.38) for the month.

● CHAMPION IRON (CIA) largely rebounded 3.9% (+$0.28), closed at $7.37, the best % gain in more than 1 month, rose 3.1% (+$0.22) for the month, is testing MA20 ($7.38). The best performer today with a slight increase in volume.

● FORTESCUE METALS GROUP (FMG) largely rebounded 2.8% (+$0.59) after a 4-day losing streak, closed at $21.4, fell -3.8% (-$0.84) for the month.

● HARVEY NORMAN (HVN) tumbled -7.5% (-$0.31), closed at $3.85, the worst % loss in 35 months, also hit a YTD low, fell -13.9% (-$0.62) for the month, crossed below MA200 ($4.09). The worst performer today with the largest increase in volume.

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