ASX Shares Fall 0.1pc; Energy, Iron Ore Producers Gain
AFR2022-05-31
Shares in the iron ore, coal and energy majors climbed on Tuesday morning as China eased restrictions on movements and manufacturing in major cities.
Fortescue added 0.9 percent in early trade, with Rio Tinto up 0.8 percent.
LNG major Santos added 0.4 percent as oil prices jumped on news the European Union will impose more sanctions on Russian crude, alongside hope of improved demand from China.
The interest rate sensitive tech sector gave back some of Monday’s strong gains, with Afterpay-owner Block down 2.2 percent. The tech sector is down 0.6 percent, with financial including the banks down 0.4 percent.
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