After falling more than 1% at the mid way session, the ASX 200 lost more ground in afternoon trading and closed 2.27% down.
For the week, the local index down almost 3%, one of its worst weekly drops in a year.
The Mining index lost all of yesterday’s gain and more, down by almost 4 % as all eleven sectors fell into the red.
Energy also reversed its previous day’s gains, also falling by more than 3%.
Risk off sentiment has been the underlying theme of the week as the 10-year US yield trades at its highest level in two years with traders making hawkish rate bets.
In Australia, a 4.2% jobless print that saw the rate falling to its lowest level since 2008 has also made investors nervous about a potential RBA hike.
The RBA will convene for its first meeting of the year on February 1st, and analysts predict a rate hike announcement then.
BIG CAP WINNERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| SNZ | Summerset Grp Hldgs | 11.71 | 4.7% | 3,447 | $2,573,807,792 |
| RMS | Ramelius Resources | 1.595 | 2.9% | 4,471,107 | $1,344,446,919 |
| HDN | Homeco Daily Needs | 1.39 | 2.6% | 4,418,466 | $1,076,671,080 |
| AVN | Aventus Group | 3.28 | 2.2% | 1,715,138 | $1,834,087,688 |
| BLD | Boral Limited | 5.85 | 1.9% | 1,156,150 | $6,331,727,525 |
| GOR | Gold Road Res Ltd | 1.535 | 1.7% | 3,552,964 | $1,331,696,053 |
| NST | Northern Star | 9.84 | 1.1% | 6,876,954 | $11,331,666,966 |
| SLR | Silver Lake Resource | 1.865 | 1.1% | 2,889,675 | $1,633,683,285 |
| MTS | Metcash Limited | 4.16 | 1.0% | 3,330,452 | $3,978,031,400 |
| UMG | United Malt Group | 4.31 | 0.9% | 995,274 | $1,277,494,906 |
| CQE | Charter Hall Soc In | 3.81 | 0.8% | 619,343 | $1,376,487,102 |
| GOLD | ETFS GOLD | 238.45 | 0.7% | 16,060 | $1,336,770,336 |
| SPK | Spark New Zealand | 4.23 | 0.5% | 1,234,346 | $7,870,272,767 |
| COF | Centuria Office REIT | 2.23 | 0.5% | 675,496 | $1,322,325,944 |
| PSI | Psc Insurance Ltd | 4.75 | 0.4% | 23,039 | $1,549,715,404 |
Large cap winners were few and far between on Friday, with few stocks escaping the sea of red.
Summerset Group (ASX:SNZ) was the biggest mover today, up by 4.7% on no news.
BIG CAP LOSERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| BRN | Brainchip Ltd | 1.755 | -11.6% | 68,813,475 | $3,403,008,856 |
| SYR | Syrah Resources | 1.875 | -10.7% | 6,924,217 | $1,047,342,918 |
| PDN | Paladin Energy Ltd | 0.775 | -10.4% | 30,578,935 | $2,317,283,954 |
| INR | Ioneer Ltd | 0.74 | -8.6% | 10,782,520 | $1,660,944,203 |
| SYA | Sayona Mining Ltd | 0.1325 | -8.6% | 31,145,297 | $1,022,526,446 |
| AEF | Australian Ethical | 9.98 | -7.9% | 335,822 | $1,218,276,576 |
| LYC | Lynas Rare Earths | 10.32 | -7.5% | 7,403,024 | $10,070,912,943 |
| CRN | Coronado Global Res | 1.4025 | -7.4% | 4,014,710 | $2,539,827,401 |
| Z1P | Zip Co Ltd. | 3.35 | -7.2% | 11,940,459 | $2,125,693,931 |
| AVZ | AVZ Minerals Ltd | 0.7425 | -7.2% | 29,051,371 | $2,761,650,464 |
| CXO | Core Lithium | 0.85 | -7.1% | 26,112,056 | $1,532,155,438 |
| IMU | Imugene Limited | 0.335 | -6.9% | 39,943,523 | $2,089,431,306 |
| SFR | Sandfire Resources | 6.86 | -6.9% | 2,438,646 | $3,021,566,551 |
| CHN | Chalice Mining Ltd | 8.2 | -6.7% | 2,220,702 | $3,120,216,836 |
| CUV | Clinuvel Pharmaceut. | 23.68 | -6.6% | 298,908 | $1,252,552,068 |
BHP (ASX:BHP) was caught in the broad-brushed selloff today and fell almost 5%. But the company did announce the completion of it shareholder vote on its unification.
BHP shareholders have now formally approved the unification, with an overwhelming 97% votes in favour of the resolution.
After rising by 160% this past month, Brainchip (ASX:BRN) has finally fallen off its perch, down by 11% today on no news.
BNPL play Zip Co (ASX:Z1P) also fell 7% on no specific news, following record quarterly revenues of $167.4m announced yesterday.