{"id":1110,"date":"2023-11-07T05:12:38","date_gmt":"2023-11-07T05:12:38","guid":{"rendered":"https:\/\/economicherald.net\/?p=1110"},"modified":"2023-11-07T05:12:38","modified_gmt":"2023-11-07T05:12:38","slug":"asx-large-caps-asx-dips-as-rba-hands-down-25bp-hike-origin-shareholders-advised-to-accept-offer","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=1110","title":{"rendered":"ASX Large Caps: ASX dips as RBA hands down 25bp hike; Origin shareholders advised to accept offer"},"content":{"rendered":"

ASX ultimately ended in the red beyond today\u2019s RBA decision, down -0.2pc
\nThe RBA handed down a 25bp rise at today\u2019s board meeting
\nOrigin Energy shareholders urged to back takeover by proxy voting firm<\/p>\n

\u00a0<\/p>\n

The ASX fell -0.2% on Tuesday as cautious sentiment prevailed across major European and US equities markets overnight.<\/p>\n

This afternoon, the Reserve Bank expectedly resumed its tightening cycle and lifted the cash rate to 4.35% after holding rates steady for four consecutive months. It was the 13th rate hike since May last year, taking the cash rate to its highest level in more than a decade.<\/p>\n

\u201cIn order to keep inflation expectations anchored and maintain confidence in returning inflation to the target range within a reasonable timeframe, the Reserve Bank lifted interest rates again today,\u201d said Eleanor Creagh, PropTrack\u2019s Senior Economist.<\/p>\n

Looking ahead, however, Creagh believes interest rates are either at, or close to, their peak.<\/p>\n

\u201cThe outlook for the economy is weaker, however, population growth is set to continue rebounding strongly,\u201d she said.<\/p>\n

On the ASX, Healthcare, Tech, and Utility sectors led, while Financials and Real Estate lagged. All the major banks recorded losses, led by Westpac (ASX:WBC)<\/a><\/strong>, which fell by almost -3%.<\/p>\n

The Aussie dollar was unmoved at US64.66c after the RBA release, while bond yields were also muted.<\/p>\n

Across the region, Asian shares declined ahead of China\u2019s key trade data release that will provide clues on how its economy is doing.<\/p>\n

\u00a0<\/p>\n

BIG CAP WINNERS<\/h2>\n

Swipe or scroll to reveal the full table. Click headings to sort.<\/em><\/p>\n

<\/div>\n
Code Name Price % Change Volume Market Cap APM APM Human Services 2.23 4.69 795,782 $1,953,597,545 HLS Healius 1.94 4.59 1,353,268 $1,054,350,087 SDR Siteminder 4.50 3.45 435,847 $1,196,537,561 WOR Worley Limited 17.09 3.26 550,853 $8,717,734,958 SGM Sims Limited 13.07 3.04 260,323 $2,449,552,769 PME Pro Medicus Limited 84.09 3.03 85,954 $8,525,639,872 CIA Champion Iron Ltd 7.83 2.62 1,497,982 $3,946,966,458 NAN Nanosonics Limited 4.14 2.61 153,722 $1,219,508,692 WTC Wisetech Global Ltd 62.06 2.38 182,557 $20,205,572,880 HSN Hansen Technologies 5.21 2.36 30,070 $1,034,305,245 SIQ Smartgrp Corporation 8.99 2.28 271,994 $1,167,634,321 RED Red 5 Limited 0.34 2.27 6,127,540 $1,142,522,453 APE Eagers Automotive 13.60 2.26 135,334 $3,416,775,453 IEL Idp Education Ltd 23.69 2.24 262,737 $6,449,050,009 HGH Heartland Group 1.51 2.03 196 $1,058,592,600 SKC Skycity Ent Grp Ltd 1.80 1.99 78,406 $1,337,961,168 TPG TPG Telecom Limited 5.45 1.97 421,146 $9,928,884,512 <\/div>\n

WordPress Tables Plugin<\/a><\/p>\n

Origin Energy (ASX:ORG)<\/a><\/strong> rallied after proxy voting firm Institutional Shareholder Services (ISS) said shareholders should back the US$12.6 billion takeover offer for Origin by the Brookfield-led consortium.<\/p>\n

Origin\u2019s biggest shareholder, AustralianSuper, had earlier deemed the offer \u201csubstantially below our estimate of Origin\u2019s long-term value\u201d, and has increased its stake in the Origin to 15.03%, from 13.7% last week.<\/p>\n

\u00a0<\/p>\n

BIG CAP LOSERS<\/h2>\n

Swipe or scroll to reveal the full table. Click headings to sort.<\/em><\/p>\n

<\/div>\n
Code Name Price % Change Volume Market Cap AKE Allkem Limited 9.30 -3.63 1,775,323 $6,169,450,477 LTR Liontown Resources 1.59 -3.34 5,904,762 $3,958,542,492 CSR CSR Limited 5.65 -2.67 845,321 $2,768,824,805 PLS Pilbara Min Ltd 3.70 -2.63 7,558,228 $11,435,958,108 LFG Liberty Fin Group 3.80 -2.56 10,199 $1,184,835,105 GQG GQG Partners 1.34 -2.55 824,115 $4,060,107,472 AIZ Air New Zealand 0.61 -2.40 239,965 $2,105,290,197 CTT Cettire 2.89 -2.36 427,391 $1,128,465,131 ABC Adbri Limited 1.97 -2.35 166,579 $1,319,725,677 WBC Westpac Banking Corp 21.41 -2.33 9,512,270 $76,918,966,963 MCY Mercury NZ Limited 5.63 -2.26 11,181 $8,013,468,897 DEG De Grey Mining 1.20 -2.24 1,299,792 $2,212,887,309 WHC Whitehaven Coal 6.86 -2.21 4,761,759 $5,864,571,496 SUN Suncorp Group Ltd 13.36 -2.16 1,340,860 $17,339,086,046 SGR The Star Ent Grp 0.57 -2.16 6,461,688 $1,663,834,909 <\/div>\n

WordPress Tables Plugin<\/a><\/p>\n

GQG Partners\u00a0(ASX:GQG)<\/a><\/strong> lost 2% after reporting a drop in funds under management (FUM) from $105.8bn in September, to $103.9bn in October.<\/p>\n

<\/span><\/p>\n

The post ASX Large Caps: ASX dips as RBA hands down 25bp hike; Origin shareholders advised to accept offer<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

ASX ultimately ended in the red beyond today\u2019s RBA decision, down -0.2pc The RBA handed down a 25bp rise at today\u2019s board meeting Origin Energy [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":1111,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nASX Large Caps: ASX dips as RBA hands down 25bp hike; Origin shareholders advised to accept offer - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=1110\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX Large Caps: ASX dips as RBA hands down 25bp hike; 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