The ASX closed lower on Friday (17 January) following the release of data showing a 5.4% improvement in China’s economy in the final quarter of 2024.
This was higher than the September 2024 quarter, which witnessed a 4.6% rise, and above market expectations.
The S&P/ASX 200 dipped 16.6 points, or 0.20%, to 8,310.40 points by the closing bell.
The index is virtually unchanged over the past week, but is currently 2.4% below its 52-week high.
Although the broader market was down, nine of the 11 sectors ended the week in the green. Industrials climbed 0.59% on Friday and is up 0.44% over the past five days, utilities rose 0.39% and materials shifted up 0.3%.
Financials was the worst performing sector, retreating 0.84%.
On the S&P/ASX 200, lithium miner Liontown Resources (ASX:LTR) ended the week up 9.48% at $0.64, while at the small cap end the top mover was platinum group metals-nickel-copper explorer Scorpion Minerals (ASX:SCN), which closed 29.41% higher at $0.022.
Junior explorer Lightning Minerals (ASX:L1M) advanced 27.27% to $0.084 following the release of lithium soil sampling results and the confirmation of spodumene minerals discovered within pegmatites at the Esperança Project in Brazil.
Gold Mountain (ASX:GMN), however, ended the week down 33.33% at $0.002.
The S&P/ASX200 is Australia’s leading share market index and contains the top 200 ASX-listed companies in terms of market capitalisation, and accounts for about 80% of the country’s equity market. The index is designed to measure the performance of the 200 largest index-eligible stocks listed on the ASX by float-adjusted market capitalisation.
It is recognised as the institutional investable benchmark in the country.
Write to Angela East at Mining.com.au
Images: ASX & Stock
