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January 30, 2023 15 min

ASX 200 fell 12 points at 7482. Resources came under a little pressure as China came back online and RIO fessed up to losing a radioactive capsule. RIO down 1.1% on the news, BHP off 0.6% and FMG off 1.3%. Lithium stocks in demand again as Chinese producers making record profits, PLS up 2.0%, AKE up 1.1% and rare earths also doing well with LYC up 6.9% with ARU continuing  1.8% higher. Quarterlies helping sentiment. Gold miners steady and better in places, SBM up 6.1% and NST rallying 1.0%. Oil and gas steady with coal stocks steadier after a dismal day Friday, WHC down 0.5% and NHC 0.7% better.  In the industrials, REITs continue to find buyers, GMG up 1.1% and CHC rallying 2.2%. 'Old Skool' platforms better too, REA up 2.8% as first cab off the results rank. Tech better following Nasdaq higher with the Index up 2.2% and XRO up 3.1% with WTC better by 5.2%. Healthcare under pressure, RMD fell hard on results and comments, down 6.8%. Banks flat with the Big Bank Basket unchanged. In corporate news today, plenty of quarterlies again, SUN and IAG hit by floods in NZ down 2.0% and 3.7% respectively. LFS soared 9.1% on news that DJs will be using it as card provider. LYC soaring on quarterly. OZL sees record output but pricing pressures from higher energy prices. Nothing on the local economic front. In Asia, mixed results as Lunar New Year ended. 10-year yields up to 3.56%. Dow Jones futures down 105 points. NASDAQ futures down 54 points.

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