Australia Stocks Decline At The End Of Stock Trading
On Wednesday, Australia stocks were softer at the end of stock trading. The decline was due to the losses in the Healthcare, IT, and Utilities sectors that led shares at a low level.
Meanwhile, the S&P/ASX 200 also plunged by 2.31% to hit a new 1-month low at the close in Sydney.
The finest performers of the session on the S&P/ASX 200 were Healius Ltd that grew by 15.58% or 0.430 points to trade at 3.190 at the close.
Moreover, Invocare Ltd inched up by 13.57% or 1.73 points to end at 14.48. It is along with Nine Entertainment Co Holdings Ltd that rose by 6.50% or 0.105 points to 1.720 in late trade.
On the flip side, the weakest performers of the session were Polynovo Ltd. Which dropped by 20.53% or 0.620 points to trade at 2.400 at the close.
Appen Ltd also inched down by 10.35% or 2.63 points to end at 22.77. It is together with Jumbo Interactive Ltd that edged down by 9.13% or 1.10 points to 10.95 in the stock market.
However, plunging stocks outstripped developing ones on the Sydney Stock Exchange by 1093 to 215, and 263 ended untouched.
The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was ahead by 11.53% to 19.250 a new 6-months high.
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Australia Retains Coronavirus Travel Ban
Elsewhere, the coronavirus-related travel ban that is threatening Australian international education remains in place.
The issue is with education minister Dan Tehan. He is not likely to announce changes during an address to the Universities Australia summit in Canberra.
Beforehand, Mr. Tehan has lifted expectations that the universities may possibly be next in line for an immunity.
The exemption comes from the rules prohibiting entry to Australia from China. The prohibition happened after the administration lessened its restrictions affecting schools.
In a February 22 press conference, Tehan stated, “Based on medical advice next week, [we will] then look at international tertiary education students.”
Meanwhile, health authorities have informed that Sars-CoV-2 has contained in Australia. To add, exemptions must be in consideration for “small numbers of cases.”
However, Mr. Tehan declares the exemption is a “strict pathway” for senior school students only. He indicated that in a speech arranged for the Universities Australia conference on February 26.
Mr. Tehan will also emphasize that any funding expansions for universities will require convincing arguments.
His speech states, “I worry that over the 30 years since the Dawkins reform, the connection between the public-private benefit and cost of education has decoupled through various policy approaches.”
Moreover, “At the very least, we need to be able to better articulate that benefit and cost with the broad Australian community and be willing to adjust it to 21st-century values and conditions.”
Lastly, “If we are going to present a case to the Australian public, then we are going to have to work together to build that case.”
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