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ASX rallies 0.9pc; IDP Education sinks 16pc

ASX jumps 0.9pc

The S&P/ASX 200 added 0.9 per cent, or 62.6 points, to 7217.4 on Monday, buoyed by mining and real estate stocks, as investors cheered a tentative deal to raise the US debt ceiling.

IDP Education sank 15.9 per cent to $$21.71 following Canada’s decision to allow competitors to enter the Student-Direct-Stream (SDS) component of student visas.

Select Harvests climbed 8.7 per cent X to $4.74 after flagging improved conditions for its 2024 crop.

Humm Group advanced 7.7 per cent to 42¢ after the Australian Securities and Investments Commission revoked the stop order placed on Humm’s buy now, pay later subsidiary.

ALS dropped 4.2 per cent to $11.75 after reporting that its underlying continuing net profit after tax jumped 23.4 per cent in FY23 to $321 million.

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    Original URL: https://www.afr.com/markets/equity-markets/asx-poised-for-debt-ceiling-relief-rally-20230529-p5dbz8