AUSTRALIAN STOCKS RECOVER: Everything you need to know

Fox Photos/Getty Images

Australian stocks rebounded on Wednesday, snapping a four session losing streak in the process.

First, the scoreboard:

  • ASX 200 5227.70 , 19.92 , 0.38%
  • All Ords 5326.60 , 16.61 , 0.31%
  • AUD/USD 0.7487 , 0.0025 , 0.34%

Given the topsy-turvy nature of financial markets right now, it should perhaps come as no surprise that Australian stocks did exactly the opposite to yesterday, albeit on a far smaller scale.

They opened weaker, reversed course quickly, and then closed near the session highs.

ASX 200 1-Minute Chart. Source: Thomson Reuters Eikon

Keeping with that theme, after being the largest drag on the index on Tuesday, the strength today was led by financials which rose 0.77%.

Of the major banks, CBA put on 0.95% while Westpac led the pack, rising 1.46%. ANZ and NAB added 0.62% and 0.57% respectively.

Telecommunications put in the strongest performance overall, jumping by 2.36%. Unsurprisingly, Telstra just happened to close with a gain of 2.63%.

Elsewhere there were solid gains for consumer staples, real estate investment trusts and healthcare.

They were partially offset by weakness in energy and materials, thanks primarily to large decline in commodity prices seen overnight.

BHP Billiton and Rio Tinto shed 1% and 1.33% respectively.

Here’s the how individual sectors on the ASX 200 performed.

  • A-REITS 0.33%
  • Consumer Discretionary -0.18%
  • Consumer Staples 0.74%
  • Energy -1.44%
  • Financials 0.77%
  • Healthcare 0.27%
  • Industrials 0.22%
  • Information Technology 0.02%
  • Materials -0.61%
  • Telecommunications 2.36%
  • Utilities -0.68%
  • All Ords Gold Index -0.39%

And here’s how the Top 20 stocks by market weight fared.

  • AMP , $5.31 , 1.34%
  • ANZ , $26.01 , 0.62%
  • BHP Billiton , $19.80 , -1.00%
  • Brambles , $11.74 , 1.38%
  • CBA , $70.16 , 0.95%
  • CSL , $100.70 , 0.76%
  • Insurance Australia Group , $5.30 , 0.76%
  • Macquarie , $78.28 , 0.68%
  • NAB , $26.40 , 0.57%
  • QBE Insurance , $9.64 , 0.31%
  • Rio Tinto , $46.83 , -1.33%
  • Scentre , $4.55 , 2.25%
  • Suncorp , $12.50 , 0.56%
  • Transurban , $10.81 , 0.19%
  • Telstra , $5.07 , 2.63%
  • Westpac , $29.12 , 1.46%
  • Wesfamers , $42.64 , 1.19%
  • Westfield Corporation , $9.53 , -0.31%
  • Woolworths , $22.50 , 0.36%

Outside of South Korea and Hong Kong, stocks elsewhere in the region either finished lower or are currently trading in the red.

S&P 500 futures are up 0.27%.

They mirrored what happened in Australian stocks on Tuesday, so if today is any guide it suggests that markets may stabilise in European and US trade.

With little on the economic docket to sway financial markets one way or another, it’s likely that risk assets, including stocks, will take their cues from the movements in long-dated bond yields.

Here’s how they currently stand for major developed nations.

10-Year Bond Yields

  • Australia 2.148%
  • New Zealand 2.555%
  • Japan -0.013%
  • Germany 0.059%
  • UK 0.915%
  • US 1.719%

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.