ASX Round-Up: US Concerns Push ASX to Close of 5,208 Points

Today, the Australian Securities Exchange (ASX) hit a high of 5,234.9 points and a low of 5,197.7, ultimately closing at 5,208 points.

Investors are concerned that budget issues in the United States will cause the country to default on its debts, as per to The Sydney Morning Herald.

”The original view was this would be resolved pretty quickly,” the publication quotes Michael McCarthy, chief market strategist at CMC Markets, as saying. “The shutting down of the U.S. government was largely symbolic. The longer it drags on, the bigger the concerns become. While a partial shutdown of the U.S. government is not a disaster for global markets, a U.S. debt default would be.”

Australia-based copper–gold concentrate producer PanAust (ASX:PNA) saw some of the biggest losses on the ASX today. The company fell $0.08, or 3.77 percent, to $2.04. Aurora Oil & Gas (ASX:AUT,TSX:AEF), an oil and gas exploration company based in Australia, also fell on the ASX, hitting $3.29, a drop of $0.11, or 3.24 percent.

Zircon and titanium dioxide producer Iluka Resources (ASX:ILU) was a top gainer on the ASX today, gaining $0.30, or 2.68 percent, to hit $11.49. Copper, gold and silver miner OZ Minerals (ASX:OZL) gained $0.70, or 1.62 percent, rising to $4.39.