ASX 200 u-turn, closing 0.4% as energy, IT stocks gain, China property fears fuel global sell-off
Stocks recover to finish 0.4 per cent higher, led by energy and IT sectors. APA shares drop 4.7 per cent amid fears of a bidding war for AusNet.
Welcome to the Trading Day blog for Tuesday, September 21. Australian stocks close 0.4 per cent higher, bolstered by energy and IT stocks. Early morning fall came after global market rout fuelled by worries about contagion from the meltdown of Chinese property giant Evergrande and fears of a US debt default.
The Dow dropped 1.8 per cent while the S&P 500 fell 1.7 per cent and the Nasdaq sank 2.2 per cent. European markets also fell and iron ore prices tumbled sharply again.
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