ASX advances as mining, energy stocks jump; Bitcoin tumbles
The Australian sharemarket opened positively with the S&P/ASX 200 gaining 31 points, driven by strong performances in mining and energy sectors. Oil prices rose amid ongoing tensions in the Persian Gulf, impacting global supply concerns. Meanwhile, Bitcoin experienced a decline as traditional markets showed resilience.
- ▪The S&P/ASX 200 was up 31 points, or 0.4 percent, to 8755.40 in early trade.
- ▪Mining stocks saw significant gains, with BHP, Rio Tinto, and Fortescue all increasing in value.
- ▪Oil prices rose for a third consecutive day due to geopolitical tensions affecting supply.
Opening excerpt (first ~120 words) tap to expand
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.