The ASX 200 opened 1.5% lower this morning as investors reacted to global fears; as Chinese markets fell 9% at open and the Coronavirus continues to spread across China. The Australian transport industry was mildly hit this morning with QAN opening 3.8% lower. However, QAN recovered closing near it’s friday closing price of $6.44. It was the same story for Sydney Airport, opening 4% lower and since recovering. The up and coming Bio-tech company PAR also opened 21 cents short of it’s trading price. Possibly allowing a nice entry under $4 for those able to get in. However, some companies were up this morning including:
- Pro Medicus Limited ASX: PME – PME, rising IT solutions company, rose by 7% today. Despite the spike, PME is still recoveing from a steady decline. Presenting investors with a possible entry point. With PME being one of the biggest movers today, they are defitnely one to watch as volume begins to pick up.
- Service Stream Limited ASX: SSM – SSM, a company providing essential network services, also surged by 7% today. On the back of no news SSM appears speculative. Espeically as SSM are 0.30 cents lower then its $3.02 high in August 2019.
- Avita Medical Ltd ASX: AVH : AVH, skin repair company, increased around 9%. Avita’s growth is backed by impressive financials,recent FDA approval and potential growth in the USA markets. Avita are up 400% YTD, making the biotech a must on your watchlist.
- Evolution Mining Ltd ASX: EVN : EVN only jumped by 1.46%. The low increase appears to be driven by possible speccing from investors. A move to Gold is common as a market dips. From my research I have found no substantial recent internal news that would drive up the share price.
- Northern Star Resources Ltd ASX: NST : NST is up 2.46% from Friday’s closing. Gold prices have surged, causing Mining companies such as NST to be specced. The northerly trend may last for weeks as the Coronavirus shakes the market. However the markets do remain unpredictable.
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The information above should not be taken as financial advice. Youth Investment Group has no liability for personal financial interests or investment decisions. You should make your own investment decisions based upon your own research and what you believe is best for you.
Written by Tyger Fitzpatrick and Patrick McLoughlin.