Select the account you'd like to open


ASX closes lower, Asia markets gaining, US futures higher

The S&P/ASX 200 closed lower Wednesday, dropping 20.10 points or 0.28% to 7,235.90.

GUD Holdings was down 10% and Pro Medicus dropped 7.2%. Rare earths miner Lynas Corp soared to a record high on no specific news.

The index has lost 2.21% in the past five days, but has gained 9.85% in the year to date.

The Nikkei is up 0.8%, Shanghai is 3 points higher and Hong Kong is up 1.5%, with investors assessing omicron covid variant concerns.

US futures are trending higher, indicating gains at the open.

WTI crude oil bounced back above $US67 a barrel, after a dip below $US65, on concerns about demand if omicron takes off through the world, causing lockdowns or border closures and hitting travel plans.

OPEC will meet on Wednesday ahead of another meeting with its allies on Thursday. The group is widely expected to pause plans to add 400,000 barrels per day of supply in January due to demand and supply factors.

The Australian dollar is currently trading around US71.68c, slightly stronger against the US dollar.

Disclaimer: CMC Markets is an order execution-only service. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

Sign up for market update emails