Australian shares advanced on Wednesday to end a three-day losing streak as the technology sector rebounded after weeks of heavy losses and bargain hunters targeted shares in the retail and communications sectors.P/ASX 200 Index advanced 1.04 per cent, or 72.7 points, to 7053 points despite all three of Wall Street’s major indices closing lower on concerns the war in Ukraine will stoke inflation and energy prices.
Mr Sequeira suggested investors may be bargain hunting across growth sector sectors after months of heavy selling. “The tech sector still doesn’t represent good value in general,” he cautioned. “But it does represent good value relative to where share prices were previously.”decision by the US and UK governments to ban Russian oil, gas, and coal imports
On Tuesday night AEST, the London Metals Exchange said it did not expect the nickel market to reopen before March 11. The decision came after nickel prices doubled in 24 hours to briefly touch more than $US100,000 a tonne on Tuesday in Europe. “Origin is in a strong financial position, with a robust outlook for the business and a capital structure comfortably within our target range,” said chief executive Frank Calabria.
Australian east coast’s floods and storms, including 3500 claims from the widespread flooding across Sydney the last three days.
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