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Title: Australia stocks lower at close of trade; S&P/ASX 200 down 1.18%

May 09, 2022 03:45AM ET

By: AnalysisWatch

Australian stocks dropped after the close on Monday as declines in the A-REITs, gold and IT sectors led stocks lower.

At the close of trading in Sydney, the S&P/ASX 200 index fell 1.18% to hit a new one-month low.

Polynovo Ltd. rose 3.33%, or 0.03 points, to close at 0.93 on the S&P/ASX 200 Index; Westpac Banking Corp. rose 3.23%, or 0.77 points, to close at 24.60; and Whitehaven Coal Ltd. rose 2.63%, or 0.13 points, to close at 5.08 in late trading.

News Corp B and DRC were the worst performers, falling 8.83% and 2.35 points, respectively, to close at 24.25. Megaport Ltd dropped 8.56%, or 0.69 points, to close at 7.37 points, while Magellan Financial Group Ltd fell 8.41%, or 1.45 points, to 15.80 points.

On the Sydney Stock Exchange, declining stocks outnumbered rising ones by a ratio of 1,310 to 258 and 305 ended unchanged.

Shares of News Corp B DRC fell 8.83%, or 2.35 points, to 24.25, a 52-week low. Shares of Megaport Ltd fell 8.56%, or 0.69 points, to a 52-week low of 7.37 points. Shares of Whitehaven Coal Ltd rose 2.63%, or 0.13 points, to 5.08 points, hitting its three-year high.

The S&P/ASX 200 VIX index, which measures the implied volatility of options on the S&P/ASX 200, rose 14.16% to 19.40, a new monthly high.

The AUD/USD currency pair fell 0.93% to $0.70, while AUD/JPY declined 0.44% to $91.98.

Dollar index futures rose 0.32% to 104.03.

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