• ASX 200 extended loss, down by 1.43%
  • All sectors fell except for Energy
  • Tech and Real Estate were the worst performers


The ASX has extended its selloff as local stocks closed to the lowest level in two months.

At the close, the benchmark ASX 200 index finished 1.43% lower, with all sectors except energy falling.

Tech and Real Estate were once again the worst performers, as investors weigh a possible fast tracked rate hike by the Fed after strong US job numbers.

The latest jobs reports released last Friday showed the US economy added 428,000 jobs in April, much higher than forecast.

Another crucial data this week is Wednesday’s US CPI, which at 8.5%, is the highest level since 1981.

Meanwhile, ASX Energy stocks bounced back after falling in the morning session. Investors have increasing concerns over China’s demand for energy, as Shanghai is reported to be preparing for tighter lockdowns.

At the time of writing, Brent crude is trading at US$110.70 a barrel. Earlier today, the Singapore and Dalian iron ore futures fell by over 5%.



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Brainchip (ASX:BRN) surged 15% on no news. On Friday, the company had responded to a speeding ticket from the ASX, and said it wasn’t aware of any reason why the stock price had lifted. The BRN share price is now up by 30% in the last 30 days.

Westpac (ASX:WBC) was up 3% after reporting a $3.1 billion cash profit for the first half. The bank’s first half earnings fell 12% on pcp, but says it expects lower expenses in the second half.

TPG Telecom (ASX:TPG) will sell its mobile tower and rooftop infrastructure businesses for an enterprise value of $950 million. TPG says it will use the proceeds to pay off exisiting debt.


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Lithium mine developer Lake Resources (ASX:LKE) was down 9% today amid a general selldown in mining shares.

Novonix (ASX:NOV) and Imugene (ASX:IMU) also lost 11% on no specific news.

Suncorp (ASX:SUN) meanwhile was down around 1%, despite growing its home lending business by 1.7% during the March quarter to $803 million.