Boost from Fed Chair Powell: Hang Seng Index, ASX 200, and Nikkei Index

Welcome to Extreme Investor Network, where we provide you with unique insights and valuable information on the stock market, trading, and more. Let’s dive into the recent movements in the ASX 200 and Hang Seng Index.

The ASX 200 took a hit on Wednesday, dropping by 1.34% as it followed the negative trend in US equity markets. Tech stocks were hit hard as sentiment shifted towards a potential June Fed rate cut. The S&P ASX All Technology Index (XTX) ended the day down 2.81%, while banking, gold, and mining stocks also contributed to the overall losses. Despite overnight gains in crude oil prices, oil stocks had a mixed session.

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ANZ Group Holdings Ltd. (ANZ), Commonwealth Bank of Australia (CBA), National Australia Bank Ltd. (NAB), and Westpac Banking Corp. (WBC) all saw declines ranging from 1.07% to 1.88%. Mining giants BHP Group Ltd (BHP) and Fortescue Metals Group Ltd. (FMG) also took a hit, with declines of 0.60% and 0.90% respectively. However, Rio Tinto Ltd. (RIO) managed to buck the trend with a gain of 0.38%.

In the gold sector, Northern Star Resources Ltd. (NST) and Evolution Mining Ltd (EVN) both saw declines, while Woodside Energy Group Ltd (WDS) managed a slight gain of 0.03%. Santos Ltd (STO) slipped by 0.13%.

Shifting our focus to the Hang Seng Index, stay tuned for more updates and insights on this dynamic market. Don’t forget to follow Extreme Investor Network for expert analysis and valuable tips to help you navigate the world of trading and investing.

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