BoA has tracked signs of the upcoming stock market sell-off. While more expensive and at-risk stocks are set to fall, value stocks should survive.
Australian stocks ascend at close of trade
On Tuesday, Australian stocks surged after the close, as profits in the Financials, IT as well as Consumer Discretionary sectors brought stocks up.
The S&P/ASX 200 leapt 1.30% to reach a fresh 52-week peak.
Such benchmarks as Mantra Group Ltd, Ardent Leisure Group and Aconex Ltd turned to be the best performers of the session on the S&P/ASX 200. They rallied respectively 12.26%, 11.04% and 8.16%.
As for the worst performers, they were represented by Myer Holdings Ltd, Isentia Group Ltd and Resolute Mining Ltd. They tumbled 5.16%, 3.31% and 2.93% respectively.
On the Australia Stock Exchange, soaring stocks outperformed declining ones by 615 to 454, while 343 ended intact.
The S&P/ASX 200 VIX, tracking the implied volatility of S&P/ASX 200 options, sank 2.98%, being worth 12.271.
The currency pair AUD/USD dropped 0.09%, trading at 0.7610, while AUD/JPY dipped 0.12%, hitting 84.19.
The US Dollar Index Futures stood still 0.00%, showing 99.03.
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