ASX200 Afternoon Report September 20th 2022

The ASX200 trades 83 points higher (+1.24%) at 6803 at 3.30 pm Sydney time.




The ASX200 trades 83 points higher (+1.24%) at 6803 at 3.30 pm Sydney time.

Casting aside yesterday’s nervous session, the ASX200 has surged today, encouraged by a brave rally on Wall Street overnight despite the yield on the U.S 2yr bond closing at 3.95%, its highest level in almost 15 years.

The ASX200 was emboldened further by the release of the RBA meeting minutes for the September Board meeting, which outlined the case for a slower pace or RBA rate rises into year-end to keep the economy on an “even keel”.

Music to the ears of the big banks with 55% of their asset books comprised of housing loans. CBA added 1.74% to $96.31, NAB added 1.7% to $30.20, Westpac added 1.5% to $21.87, and ANZ added 1.2% to $23.84.

The materials sector snapped a 4-day losing streak, boosted by an 8.8% rally in New Hope Corporation to $5.94 after it reported bumper FY 2022 earnings, including a 143.5% lift in revenues. Mineral Resources added 5% to $71.40, BHP added 2.86% to $38.89, and Rio Tinto added 1.75% to $93.99.

A rally in U.S airline stocks on Wall Street has supported gains in ASX-listed travel stocks. Webjet added 4.13% to $5.42, Corporate Travel added 2% to $19.16, Flight Centre added 1.6% to $16.31, and Qantas lifted 0.67% to $5.28.

A mixed day for tech stocks, warier than most of the potential fallout from Thursday’s FOMC meeting. Sezzle fell 1.67% to $0.59c. Life 360 fell 0.88% to $5.64, Afterpay owner Block fell 0.9% to $95.50. Altium gained 1.75% to $36.03 while Wisetech global added 1.5% to $57.40.

The comprehensive rejection from above 7000 last week, followed by today’s bounce from 6700, supports our view that the ASX200 has entered a period of choppy range trading until the start of November.

ASX200 day chart

 Source Tradingview. The figures stated are as of September 20th, 2022. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation


  1. Open a account, or log in if you’re already a customer.
  2. Search for the pair you want to trade in our award-winning platform.
  3. Choose your position and size, and your stop and limit levels.
  4. Place the trade.

Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.

Open an Account