The Australian share market opened higher on Friday despite Wall Street witnessing weakness in the last two trading sessions. The global markets have largely remained weak following a 74-basis points interest rate hike from US Federal Reserve on Wednesday.
The ASX 200 index opened 7.10 points, or 0.11% higher at 6,707.30. The benchmark has shed 0.47% in past five days. It has fallen 8.99% in the past 52-weeks, according to the ASX data.
While the All-Ordinaries index was trading 0.088% lower at 6,927.5, the volatility index rose 7.843% at 17.503. On Wednesday, the benchmark index closed 1.6% lower at 6,700.2 points.
However, the benchmark index soon fell and in the first ten minutes of trade, the ASX 200 was trading at 6,636.90, down 63.30 points, or 0.94%.
The ASX was closed on Thursday to commemorate the death of Queen Elizabeth II.
In the US, the Dow Jones fell 0.35%, the S&P 500 dipped 0.84%, and the NASDAQ ended 1.4% lower. In Europe, the Stoxx 50 fell 1.9%, the FTSE dipped 1.1%, the CAC dropped 1.9%, and the DAX ended 1.8% lower. MSCI’s gauge of global stock performance fell 1.04%.
After the first half-an-hour, the benchmark index ASX 200 was trading down 1.10%, or 73.90, or 6,626.30, with most sectors trading weak, led by real estate, consumer discretionary and info tech. Only materials traded higher.
Block shed the most, while Rio Tinto gained the most.
Data Source: ASX (as of 23 September 2022, 10:36 AM AEST)
Image Source: © 2022 Kalkine Media®
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