Australia stocks higher at close of trade; S&P/ASX 200 up 0.10%
Australia stocks were higher after the close on Tuesday, as gains in the Healthcare, Telecoms Services and Energy sectors led shares higher.
At the close in Sydney, the S&P/ASX 200 rose 0.10% to hit a new 1-month high.
The best performers of the session on the S&P/ASX 200 were Vocus Group Ltd (AX:VOC), which rose 4.66% or 0.115 points to trade at 2.585 at the close. Meanwhile, CSL Ltd (AX:CSL) added 3.01% or 5.62 points to end at 192.21 and Nanosonics Ltd (AX:NAN) was up 2.85% or 0.090 points to 3.250 in late trade.
The worst performers of the session were Mineral Resources Ltd (AX:MIN), which fell 4.67% or 0.790 points to trade at 16.110 at the close. OZ Minerals Ltd (AX:OZL) declined 4.13% or 0.420 points to end at 9.750 and Bluescope Steel Ltd (AX:BSL) was down 3.52% or 0.650 points to 17.840.
Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 698 to 552 and 391 ended unchanged.
Shares in CSL Ltd (AX:CSL) rose to all time highs; gaining 3.01% or 5.62 to 192.21. Shares in Nanosonics Ltd (AX:NAN) rose to 52-week highs; up 2.85% or 0.090 to 3.250.
Asia stocks slide to four-month low as Trump raises stakes in China trade war
A sell-off in Chinese stocks drove Asian equities to a four-month low on Tuesday, as U.S. President Donald Trump threatened new tariffs on Chinese goods in an escalating tit-for-tat trade war between the world’s two biggest economies.
Spreadbetters expect European stocks to follow their Asian peers and open lower, with Britain’s FTSE (FTSE) dropping 0.3 percent, Germany’s DAX (GDAXI) shedding 0.7 percent and France’s CAC (FCHI) losing 0.75 percent.
Trump warned on Monday that Washington would impose a 10 percent tariff on $200 billion of Chinese goods after Beijing’s decision to raise tariffs on $50 billion in U.S. goods, which was in retaliation for U.S. tariffs announced on Friday.
Trump said if China increases its tariffs again in response to the latest U.S. move, “we will meet that action by pursuing additional tariffs on another $200 billion of goods.”
China warned it will take “qualitative” and “quantitative” measures if the U.S. government publishes an additional list of tariffs on its products.