Local blue chip shares fell today, as risk-off sentiment prevails across Asia following the latest development in the energy markets.

As Brent pushed above US$125 a barrel in Asian hours, ASX Energy and Mining sectors, which have been the two biggest beneficiaries of the commodity rally, fell by around 3% on profit taking.

Commodity prices, particularly oil prices, have been rising rampantly after the Biden government said it will consider banning Russian oil and gas imports to the US.

In retaliation, Russia said today it could cut off gas supplies to Europe, a comment that has sent the European Natural Gas price to a record high US$600/barrel.

OPEC has come out and said the world can’t replace all of Russia’s oil exports, which currently supply 8% of overall global demand.

The uncertainties have led to depressed markets across Asia today – with Japan, China, and Singapore equities all suffering losses.

On the ASX, only the consumer staples and health care sectors closed in the green, reversing yesterday’s losses.

Meanwhile, former Treasurer Peter Costello told the Australian Financial Review Business Summit today that the RBA should hike its rate from the current 0.1%.

“We’ve got big fiscal deficits, very low cash rates, very large bond-buying by the Reserve Bank – and it’s absolute rocket fuel,” Costello said.

BIG CAP WINNERS

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Code Name Price % Change Volume Market Cap
SBM St Barbara Limited 1.59 12.0% 14,173,482 $1,007,528,410
MEZ Meridian Energy 4.82 6.9% 63,962 $5,685,635,546
IMU Imugene Limited 0.235 4.4% 28,880,126 $1,315,741,261
SNZ Summerset Grp Hldgs 11.4 3.6% 116 $2,534,493,401
WOW Woolworths Group Ltd 35.8 3.5% 2,853,203 $41,910,119,118
JLG Johns Lyng Group 7.97 3.5% 721,857 $1,995,802,070
WGX Westgold Resources. 2.44 3.4% 1,709,165 $1,004,170,952
CSL CSL Limited 256.45 2.7% 584,673 $120,262,786,370
WTC Wisetech Global Ltd 45.45 2.6% 474,846 $14,456,408,590
COL Coles Group 17.54 2.1% 2,887,438 $22,939,906,542
RMD ResMed Inc. 33.75 2.1% 1,016,200 $13,560,606,341
LKE Lake Resources 1.005 2.0% 9,743,377 $1,204,163,975
ZIM Zimplats Holding Ltd 28.83 2.0% 23,737 $3,042,916,337
LFG Liberty Fin Group 5.34 1.9% 17,631 $1,590,864,000
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CSL (ASX:CSL) rose 3% on no specific company announcements, but a news report on The Australian newspaper said that CSL’s Flucelvax Quad influenza vaccine has received regulatory approval.

Retailers Coles Group (ASX:COL) and Woolworths (ASX:WOW) caught a bid, up around 2% on dip buying.

BIG CAP LOSERS

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Code Name Price % Change Volume Market Cap
NIC Nickel Mines Limited 1.485 -10.0% 45,745,223 $4,328,199,602
BSL BlueScope Steel Ltd 19.03 -8.6% 3,460,840 $10,196,211,762
SIQ Smartgrp Corporation 7.69 -8.2% 461,881 $1,118,721,444
MCR Mincor Resources NL 2.06 -8.0% 2,980,461 $1,084,938,086
LTR Liontown Resources 1.465 -7.3% 14,029,511 $3,463,715,813
AVZ AVZ Minerals Ltd 0.8075 -7.2% 41,279,370 $3,003,294,880
S32 South32 Limited 5.01 -6.5% 25,518,904 $24,909,202,830
AIZ Air New Zealand 1.29 -6.5% 2,701,945 $1,549,525,033
OZL OZ Minerals 26.02 -5.9% 1,807,795 $9,246,312,352
MAF MA Financial Group 7.34 -5.8% 644,163 $1,341,560,194
GQG GQG Partners 1.175 -5.6% 3,818,738 $3,676,242,765
APE Eagers Automotive 12.06 -5.6% 665,523 $3,281,035,764
CIA Champion Iron Ltd 6.45 -5.4% 1,448,659 $3,523,292,994
5EA 5Eadvanced 2.79 -5.4% 283,549 $1,232,194,645
PSI Psc Insurance Ltd 4.69 -5.3% 8,637 $1,638,965,701
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Mineral and metal miners were down on profit taking, as Nickel Mines (ASX:NIC) and Mincor Resources (ASX:MCR) took the biggest tumbles, down by 9% each.

Bluescope Steel (ASX:BSL) and South 32 (ASX:S32) were also two of the worst performing stocks, down by around 6% each.

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