The ASX 200 Index retreats to around 7,870 after reaching new record highs on Tuesday.
ASX 200 Index corrects after reaching record highs on Tuesday. Australia’s market sentiment improved due to the positive manufacturing performance in China. Genex Power has verified that Fortescue has not fulfilled the conditions precedent for one of Queensland's largest renewable energy projects. The index saw support from gains in materials, mining, and utilities sectors.
The main indices are the S&P/ASX 200 and the S&P/ASX 300, which track the performance of the 200 and 300 largest stocks by market capitalization listed on the exchange, respectively. The S&P/ASX 200 was launched in April 2000, and it is rebalanced every quarter. Which firms are the biggest contributors to the Australian stock market? Almost half of the index belongs to the financial sector, with major banks like the Commonwealth Bank of Australia, Westpac or National Australia Bank.
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