ASX 200 closed up 48 points to 7328 (0.7%) as the rally started to run out of juice in the short term. Banks took up the baton as the Big Bank Basket rose to $186.05 (+1.2). CBA up 1.3% and NAB up 1.6%. MQG rallying another 0.7% with insurers better, QBE up 0.8%. REITs continued to push higher with SGP up 0.5%, SCG up 1.4% and Fund Managers also better, GQG up 3.3% and MFG up 2.6%. Industrials were strong, TLS up 0.3%, WES up 0.7% and TCL ahead by 1.1%. ‘Old Skool’ platforms rallied too, REA up 3.6% and SEK up 3.9%. New tech better, WTC up 1.4% and XRO up 0.6%. The All-Tech Index up 1.2%. Resources were mixed, BHP better by 0.5% as it eyes $50. RIO up 0.9% and gold miners better but hardly the stuff of dreams today. Lithium stocks under some pressure with PLS down 4.1% and IGO off 1.9%. Energy stocks up with WDS up 1.2% and STO up 2.4% with coal stocks bouncing YAL up 1.6% and NHC up 5.1%. In corporate news, 360 gave us a business update with some job cuts helping sentiment up 11.1%. In economic news, home loan approvals tumbled YoY 24%. Housing lending fell 3.7% in November. Asian markets, Japan fell 1%, China up 0.8% and HK up 0.2%. 10-year yields up to 3.59%. Dow futures down 63 points, Nasdaq futures down 41 points.
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