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ASX closes 1.5 per cent higher ahead of US CPI data

At the closing bell, the S&P/ASX 200 was 1.5 per cent higher at 7,108.90, experiencing a strong rebound ahead of US CPI data, boosted by offshore gains and hints of increased support for China’s property sector.

The S&P/ASX 200 index records its largest daily increase in six months, closing up 1.5% at 7108.9 points following a four-day decline.

The index sees a 14-point jump during the closing session, with all sectors performing well, particularly tech, property, discretionary, and materials. The market strength is largely attributed to heavyweight financials and materials sectors.


The Dow Jones futures are pointing to a rise of 27 points.

The S&P 500 futures are pointing to a rise of 5.5 points.

The Nasdaq futures are pointing to a rise of 24.5 points.

The SPI futures are up 94 points.

Best and worst performers

All sectors are in the black. The best-performing sector was Information Technology, up 2.6 per cent. The sector with the fewest gains was Consumer Staples, up 0657 per cent.

The best-performing large cap was Evolution Mining (ASX:EVN), closing 4.59 per cent higher at $3.42. It was followed by shares in Liontown Resources (ASX:LTR) and South32 (ASX:S32).

The worst-performing large cap was Infratil (ASX:IFT), closing 2 per cent lower at $9.31. It was followed by shares in Mercury NZ (ASX:MCY) and Amcor plc (ASX:AMC).

Asian markets

Japan’s Nikkei has gained 0.17 per cent.

Hong Kong’s Hang Seng has gained 1.44 per cent.

China’s Shanghai Composite has gained 0.18 per cent.

Company news

Altech Batteries (ASX: ATC) (FRA: A3Y) has engaged the Centre of International Climate and Environmental Research (CICERO), for a green accreditation of the CERENERGY® battery and project. The Company has previously sought CICERO’s accreditation for its Silumina Anodes TM project, which received a “Light Green” rating. Shares closed 4.44 per cent higher

Sayona Mining (ASX:SYA; OTCQB:SYAXF) has identified a significant expansion to the lithium footprint following recent drilling at its key Moblan Lithium Project in Quebec. MD Brett Lynch commented, “these latest results have encouraged us to proceed directly to a definitive feasibility study, targeting completion by November.” Shares closed 4.17 per cent higher at 18.8 cents.

Si6 Metals (ASX:SI6) will expand on its “supply-critical metals” exploration portfolio and add 10 licences from Foxfire Metals in Brazil. Executive Director Mr. Jim Malone, commented, “By partnering up with Foxfire, Si6 will also inherit an experienced and skilled team that has been in Brazil for over 10 years and brings significant on-ground experience and expertise.” Shares closed 7.14 per cent higher at 0.8 cents.

Commodities and the dollar

Gold is trading at US$1,935.30 an ounce.

Iron ore is 3.7 per cent lower at US$105.40 a tonne.

Iron ore futures are pointing to a 0.1 per cent fall.

Light crude is trading $0.37 higher at US$73.36 a barrel.

One Australian dollar is buying 66.88 US cents.