{"id":2509,"date":"2023-12-01T05:30:24","date_gmt":"2023-12-01T05:30:24","guid":{"rendered":"https:\/\/economicherald.net\/?p=2509"},"modified":"2023-12-01T05:30:24","modified_gmt":"2023-12-01T05:30:24","slug":"asx-large-caps-shares-falter-despite-china-factory-rebound-aussuper-takes-5pc-stake-in-pilbara-minerals","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=2509","title":{"rendered":"ASX Large Caps: Shares falter despite China factory rebound; AusSuper takes 5pc stake in Pilbara Minerals"},"content":{"rendered":"

All ASX sectors in the red on first trading day of month
\nChina\u2019s Caixin Manufacturing PMI rose, signalling a rebound in Chinese factory activity
\nAsian also down as traders take a breather from the best month since 2020<\/p>\n

\u00a0<\/p>\n

The ASX200 retreated on the first trading day of December, down by -0.2%.<\/p>\n

Local traders weighed OPEC+<\/strong>\u2019s decision to cut output by 1 million barrels per day, against US PCE inflation index<\/strong> slowing to 3% in October from 3.4% in September.<\/p>\n

On the ASX today, all 11 sectors were in the red, led by losses in Tech<\/strong> and Discretionary<\/strong> stocks. Energy<\/strong> was down only modestly despite a 2% decline in crude prices overnight.<\/p>\n

Gold miners were mainly higher, while Bluescope (ASX:BSL)<\/a><\/strong> was the best large cap today, up almost 2%.<\/p>\n

Earlier today, the Caixin China General Manufacturing PMI<\/strong> rose to 50.7 in November from 49.5 in October, beating market forecasts of 49.8.<\/p>\n

It was the strongest growth in factory activity in China since August, highlighting the success of recent stimulus.<\/p>\n

Across the region, Asian stocks mostly fell today as traders take a breather from the best month since 2020.<\/p>\n

\u201cAlmost everyone was offsides coming into November,\u201d Ryan Detrick, chief market strategist at Carson Group, told Bloomberg.<\/p>\n

\u201cSo there\u2019s still a big opportunity for traders to chase gains in December, too.\u201d<\/p>\n

Looking ahead to tonight in the US, Fed Reserve chair Jerome Powell is scheduled to speak publicly at two separate events.<\/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 TUA Tuas Limited 2.63 7.79 336,279 $1,134,502,207 PDN Paladin Energy Ltd 1.03 5.90 16,471,049 $2,908,791,145 PRN Perenti Limited 1.11 5.71 2,724,793 $1,008,040,009 CTT Cettire 3.25 5.18 1,624,228 $1,178,026,100 SMR Stanmore Resources 4.07 5.17 1,505,942 $3,488,385,624 IRE IRESS Limited 7.36 4.69 1,305,281 $1,313,130,002 NEU Neuren Pharmaceut. 16.14 4.13 366,006 $1,961,767,978 PMV Premier Investments 25.30 3.60 378,975 $3,893,983,163 SNZ Summerset Grp Hldgs 8.80 3.29 1,200 $1,996,077,375 RED Red 5 Limited 0.36 2.86 14,614,232 $1,211,766,238 RDX Redox Limited 2.31 2.67 140,148 $1,181,433,213 AX1 Accent Group Ltd 1.85 2.35 656,361 $1,016,311,019 LNW Light & Wonder Inc. 133.75 2.35 18,919 $2,031,238,693 BOE Boss Energy Ltd 4.27 2.28 1,790,705 $1,471,732,962 CEN Contact Energy Ltd 7.32 2.23 2,750 $1,822,551,035 CIA Champion Iron Ltd 7.76 2.11 556,063 $3,936,452,201 NSR National Storage 2.21 2.08 2,030,192 $2,940,039,664 SDR Siteminder 4.95 2.06 251,547 $1,334,070,614 <\/div>\n

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

\u00a0<\/p>\n

Telco firm Tuas Ltd (ASX:TUA)<\/a><\/strong> rose by almost 8% after holding its AGM this morning.<\/p>\n

During the AGM, Chairman David Teoh talked about its FY23 performance, as well as outlook for FY24.<\/p>\n

Teoh said the company\u2019s 5G network rollout is currently ahead of plan. Fibre Broadband rollout is progressing with strong public interest. And there will be no change to FY24 CAPEX guidance of $45M-$50M. TUA\u2019s outlook will be supported by a stable Singapore economy that\u2019s forecasted to grow 1-3% in 2024.<\/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 HVN Harvey Norman 3.73 -5.09 2,064,470 $4,896,806,150 NAN Nanosonics Limited 4.12 -4.85 437,397 $1,311,052,200 EVT EVT Limited 10.45 -4.30 58,434 $1,772,046,898 LYC Lynas Rare Earths 6.39 -3.55 1,924,480 $6,187,676,504 APM APM Human Services 1.46 -3.31 403,873 $1,384,944,738 AD8 Audinate Group Ltd 14.50 -3.14 233,688 $1,244,139,275 TAH TABCORP Holdings Ltd 0.70 -3.13 6,837,436 $1,643,335,912 GMD Genesis Minerals 1.79 -3.12 3,315,217 $2,006,104,214 CDA Codan Limited 8.81 -3.08 3,753,024 $1,648,163,467 VCX Vicinity Centres 1.84 -3.03 5,156,398 $8,626,561,803 AWC Alumina Limited 0.71 -2.74 2,564,457 $2,118,227,434 CNI Centuria Capital 1.43 -2.73 318,699 $1,179,431,548 TNE Technology One 15.26 -2.68 680,437 $5,106,603,945 SGR The Star Ent Grp 0.51 -2.38 4,205,546 $1,506,057,460 <\/div>\n

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

Coles (ASX:COL)<\/a><\/strong> was down 1% after competition watchdog, the ACCC, said it will not oppose Coles\u2019 proposed acquisition of two milk processing plants from dairy processor, Saputo. The processing plants are located at Erskine Park, NSW and Laverton, Victoria.<\/p>\n

Coles and Saputo both currently acquire raw milk from dairy farmers in Victoria and NSW. Coles currently has its milk processed at the Erskine Park and Laverton plants by Saputo. After the acquisition, Saputo will have its raw milk processed by Coles at these facilities under similar arrangements.<\/p>\n

Pilbara Minerals (ASX:PLS)<\/a><\/strong> was down slightly after super fund, AusSuper, established a 5.1% stake in the lithium giant. It\u2019s common market knowledge that PLS is currently the most shorted stock on the ASX.<\/p>\n

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

The post ASX Large Caps: Shares falter despite China factory rebound; AusSuper takes 5pc stake in Pilbara Minerals<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

All ASX sectors in the red on first trading day of month China\u2019s Caixin Manufacturing PMI rose, signalling a rebound in Chinese factory activity Asian [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":2510,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nASX Large Caps: Shares falter despite China factory rebound; AusSuper takes 5pc stake in Pilbara Minerals - 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=2509\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX Large Caps: Shares falter despite China factory rebound; 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