{"id":3781,"date":"2023-12-28T05:14:46","date_gmt":"2023-12-28T05:14:46","guid":{"rendered":"https:\/\/economicherald.net\/?p=3781"},"modified":"2023-12-28T05:14:46","modified_gmt":"2023-12-28T05:14:46","slug":"asx-large-caps-asx-200-tests-new-record-high-bitcoin-rises-on-rumours-of-sec-approval-by-10-january","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=3781","title":{"rendered":"ASX Large Caps: ASX 200 tests new record high, Bitcoin rises on rumours of SEC approval by 10 January"},"content":{"rendered":"

ASX 200 edges toward new all-time high
\nIron ore mining stocks lead again as iron ore prices continue rally
\nBitcoin ETF to be approved by SEC on 10 January \u2013 report<\/p>\n

\u00a0<\/p>\n

The ASX200<\/strong> took another step toward reclaiming its record highs<\/strong> set in August 2021 after climbing by 0.6% on Thursday.<\/p>\n

The benchmark index tracked movements on Wall Street overnight where the S&P 500 index was also edging toward a new high.<\/p>\n

Stocks rose globally after the benchmark US 10-year Treasury yield<\/strong> \u2013 the proxy for global borrowing costs \u2013 tumbled by 11 basis points to 3.79% as bond traders weighed the outlook for monetary policy in the coming year.<\/p>\n

On the ASX, iron ore<\/strong> and steel related<\/strong> stocks led today\u2019s session following the continued rally in iron price that has taken it to a one-and-a-half-year high of around $US140 a tonne.<\/p>\n

The ferrous metal has been rising amid a rebound in China steel production<\/strong> following a series of measures announced by the Chinese government aimed at propping up the country\u2019s property sector.<\/p>\n

Other ASX sectors to rise today include Consumer Discretionary<\/strong> and Staples<\/strong>, while Utilities<\/strong> stocks lagged.<\/p>\n

Across the region, Asian stocks rose for the fourth straight day as investors position their portfolios for an anticipated Fed Reserve rate cut.<\/p>\n

\u201cMajor indices are supported by positive short-term momentum as they come into year-end,\u201d\u00a0Katie Stockton, of Fairlead Strategies, told Bloomberg.<\/p>\n

Meanwhile, Bitcoin<\/strong> has surged by 3% in the last 24 hours to US$43,396 on news the US Securities Exchange Commission (SEC)<\/em> could approve Bitcoin ETF<\/strong> in the early days of 2024.<\/p>\n

Analysts believe the SEC will likely approve the first wave of ETFs on January 10, 2024, and those companies which do not adhere to the regulator\u2019s demands by December 29th might not make it in the first list of approvals.<\/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 MEZ Meridian Energy 5.20 4.21 13,979 $6,317,712,099 MCY Mercury NZ Limited 6.22 4.19 19,432 $8,305,626,617 CIA Champion Iron Ltd 8.39 3.84 1,313,323 $4,187,494,235 CEN Contact Energy Ltd 7.60 3.40 1,980 $1,871,088,640 IRE IRESS Limited 8.29 3.30 272,856 $1,498,051,581 JDO Judo Cap Holdings 0.99 3.13 527,840 $1,064,928,800 PNV Polynovo Limited 1.67 3.10 805,006 $1,114,725,893 SFR Sandfire Resources 7.26 2.62 732,727 $3,230,936,296 AIA Auckland Internation 8.15 2.52 290,539 $11,706,781,539 PSI Psc Insurance Ltd 4.54 2.48 233,290 $1,615,282,685 HUB HUB24 Ltd 36.34 2.40 110,886 $2,882,444,175 <\/div>\n

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

Arcadium Lithium\u00a0(ASX:LTM)<\/a><\/strong> rose 1.5% after its acquired firm Allkem announced the receipt of the Certificate of Authorisation<\/em>, which will allow the development of the James Bay Lithium Project<\/strong> in Quebec, Canada.<\/p>\n

The issuance of the Certificate follows a positive recommendation by COMEX, an independent body composed of members appointed by the governments of Quebec and the Cree Nation, responsible for the assessment and review of the environmental impact assessment for the James Bay Project.<\/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 ABG Abacus Group 1.13 -4.83 563,611 $1,063,452,583 GOZ Growthpoint Property 2.35 -4.47 528,152 $1,854,475,462 BOE Boss Energy Ltd 4.06 -4.02 2,549,047 $1,712,535,246 TUA Tuas Limited 3.22 -3.01 94,293 $1,543,666,938 CQR Charter Hall Retail 3.62 -2.82 668,076 $2,162,174,145 APA APA Group 8.50 -2.69 836,487 $11,200,222,807 DXS Dexus 7.63 -2.55 1,360,210 $8,421,675,876 CTT Cettire 2.90 -2.53 1,006,790 $1,132,277,513 ASK Abacus Storage King 1.13 -2.37 85,308 $1,524,359,436 DEG De Grey Mining 1.26 -2.33 3,931,187 $2,378,876,200 BFL Bsp Financial Group 5.39 -2.18 9,931 $2,574,382,084 BWP BWP Trust 3.52 -1.95 391,467 $2,306,157,853 RGN Region Group 2.26 -1.74 1,637,307 $2,672,205,890 NSR National Storage 2.31 -1.70 1,341,303 $3,198,654,264 <\/div>\n

WordPress Table Plugin<\/a>
\n<\/span><\/p>\n

The post ASX Large Caps: ASX 200 tests new record high, Bitcoin rises on rumours of SEC approval by 10 January<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

ASX 200 edges toward new all-time high Iron ore mining stocks lead again as iron ore prices continue rally Bitcoin ETF to be approved by [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":3782,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nASX Large Caps: ASX 200 tests new record high, Bitcoin rises on rumours of SEC approval by 10 January - 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=3781\" \/>\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 200 tests new record high, Bitcoin rises on rumours of SEC approval by 10 January - 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