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Australia 200 Faces Pressure from Rising US Yields and Market Volatility
The Australia 200 index fell 46 points (0.56%) to 8340 amid rising US yields, driven by concerns over the deficit and Moody's credit rating downgrade. Energy and property sectors suffered losses, while technology stocks showed mixed results, with SKS Technologies surging 21.57% after securing a major contract. Gold miners gained as uncertainty increased, with Northern Star Resources rising 4.86% to $20.15.
ASX 200 declines as traders assess US election impact on economy
The ASX 200 is down 17 points (-0.22%) at 8181 as traders assess the implications of the US election on the Australian economy. Concerns over potential US-China trade tensions have emerged, though Chinese fiscal stimulus may mitigate impacts. Big miners and energy stocks saw gains, while real estate and gold mining sectors faced declines due to rising global yields and a stronger US dollar. Sigma Healthcare's shares surged 23.4% following merger approval.
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