ASX Round-Up: Stocks Down Amid Wait for Central Bank Announcements

Today, the Australian Securities Exchange (ASX) dropped 52.2 points, or 0.95 percent, hitting 5,428.6 points. Investors are waiting for the central banks of various countries to issue their reports, according to The Sydney Morning Herald.

“The most likely cause of volatility in global equity markets in the months ahead will be central bank announcements,” Ryan Taliaferro, a portfolio manager at Acadian Asset Management, said. Concern about a growth slowdown in China, as well as the recent sell off of many US tech stocks, is also causing markets all over the globe to react, the news outlet said.

Performing well today was uranium miner Paladin Energy (ASX:PDN), which is up $0.02, or 4.65 percent, to a total of $0.45. Similarly, Western Areas (ASX:WSA) gained $0.08, or 2.17 percent, to reach $3.76. Western Areas mines, processes and sells nickel sulfide concentrate.

Meanwhile, oil and gas company Buru Energy (ASX:BRU) closed at $1.20, falling $0.08 points, or 6.27 percent. Also not faring so well was Karoon Gas (ASX: KAR), which sank $0.11, or 4 percent, reaching $2.64.