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 […]

Click here to view original web page at www.msn.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.