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ASX 200 rallies on employment data; BHP tips strong iron ore demand from China, Netwealth dives

Shares at nine-month high after weaker jobs data. Miners gain as BHP tips strong China demand. Netwealth dives on inflows hit. Jeff Kennett calls for price cap enforcement.

David Rogers, Valerina Changarathil, Hayden Johnson and Matt Bell

Picture: David Swift

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6:34AMJanuary 19, 2023.

Updated 5:11PMJanuary 19, 2023

The Australian Business Network

Welcome to the Trading Day blog for Thursday, January 19. An unexpected fall in the number of people employed in Australia was good news for the local sharemarket as it rose to a fresh nine-month high.

The S&P/ASX 200 index added 0.6 per cent to 7,435.30, with eight of the 11 sectors in the green.

On Wall Street, the S&P 500 index fell 1.6 per cent, the Dow Jones index lost 1.8 per cent and the technology-focused Nasdaq index was off 1.2 per cent.

The dollar fell on the jobs report to be buying US69.05c at the close.