Closing Bell: Another day of gains for the ASX, led by uranium

Closing Bell: Another day of gains for the ASX, led by uranium

The ASX closed higher today and it was all thanks to the latest moves in the uranium sector. Spot prices have reached ~7 year highs with the latest catalyst being the Sprott Physical Uranium Trust buying up more physical uranium and spot prices surpassed US$40 per pound. The ASX 200 rose 0.25% to close at 7,425 while the ASX Emerging Companies Index rose 1.8%, closing t 2,513.

Energy rose over 1% and resources rose 0.9% and most other sectors gained as well. Tech was one exemption sector, retreating 0.28%.

The drop in tech was in line with the tech sectors of many other Asia-Pacific markets especially in China following reports out of the Financial Times that the Chinese government wanted to break up Ant Group’s Alipay.

EV stocks also suffered after China’s industry minister said consolidation was needed. TODAY’S BIGGEST WINNERS Scroll or swipe to reveal table. Click headings to sort. 92E […]

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