Home Business Market close 3 Aug 22: ASX retreats, ending 6-day winning streak

Market close 3 Aug 22: ASX retreats, ending 6-day winning streak

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Australia’s stock market rallied for six straight days and posted its worst daily fall in about two weeks after the ASX 200 fell 22.2 points, or 0.32%, to 6,975.9. The index managed to recoup some losses after the mining sector reversed a 1.5 percent drop to finish 0.35 percent higher. The recovery in the materials sector was supported by growth in lithium miners after the parliament’s decision to cut emissions by 43 percent by 2030. Elsewhere, technology shares rose 2.2 percent – their best day in about two weeks – and the sector’s financials rose for a sixth straight day, with the Big Four banks falling.

https://www.heraldsun.com.au/business/market-close-3-aug-22-asx-retreats-ending-6-day-winning-streak/video/1c10e44cc566decb658858984d5f07f9

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