Business
ASX rises as tech, gold rally runs dry – The Australian Financial Review
A heavy rotation away from the high-flying tech and gold sectors wasn’t enough to weigh down the market this week, with most local shares closing the week higher.
Iron ore prices advanced during the week, with strong demand from China keeping the bulk supported despite Brazilian supply lifting.
On Friday, Rio Tinto said conditions in China had improved through the second quarter and appeared to be stabilising, with the important construction and infrastructure sectors performing well.
BHP Group advanced 4.8 per cent to $37.92, Rio Tinto rose 6.3 per cent to $104.14 and Fortescue Metals Group firmed 10.4 per cent to $16.39.
Other mining stocks were also…
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