This article is in: Australia China Finance**.
ACB News "Australia China Finance**", February 22, on Thursday, driven by a series of corporate profit reports, Australia's **ASX200 index slightly expanded by 28 o'clock to 76112 o'clock closed, up 004%。
ASX200 chart for today.
The Australian dollar fell wave by wave on Wednesday night, reaching as low as 6533 cents after there is **. Today's continuation of ** continued to rise, as of press time, the lowest to 6542 cents up to 6596 cents.
In APAC**, technology stocks across the Asia-Pacific region were boosted by Nvidia's expected significant increase in sales. Japan's Nikkei 225 hit an all-time high since 1989, hitting an intraday high of 39,029 but paring gains to 38,980 in Australia***.
The technology-heavy NASDAQ index ***13%, Nvidia shares rose 73%。Previously, this home was worth 17 trillion dollars (2..)$6 trillion) semiconductor giant announced a 769% surge in net profit to $12.3 billion, with sales surging 265% to $22.1 billion in the fourth quarter of last year.
Alex Pollack, founder of tech asset manager Loftus Peak, said Nvidia's quarterly results were amazing. If it were earning $21 per share for the year ending January 31, 2025, it would have traded at a P/E ratio of 35x, but the company should easily reach $28 or $30 per share with a P/E ratio of just 20x. Therefore, the company's share price is completely reasonable and there is no bubble.
Company news: Shares of dairy producer Bega Cheese surged 13% to 4 in Australia01 Australian dollars. Previously, the company announced that sales increased by 3% to 17$300 million with a profit of $26.5 million.
Financial services provider Insignia was the best performer among ASX200 constituents today, with shares jumping 137%, and the final session ended at 2$57 closed.
Qantas share price**68% to 5$21.
Due to the strong iron ore** in the six months ended December 31, FMG raised its interim dividend by 44% to 1. per shareAUD 08. The company's share price** 21%, *price is 27AUD 83.
Lithium producer Pilbara Minerals announced that it had a profit of 82% to 2 percent in the six months ended Dec. 31 due to the impact of lithium on the company's performance in the second half of 2023$200 million, compared to a profit of $12 for the same period in 2022$400 million. The company's share price was unchanged from yesterday's ** price.
Shares in lithium and iron ore producer Mineral Resources climbed 3% to 60AUD 90. Previously, the company announced that it would cut its dividend by 833% to 20 cents per share.
Medibank shares of health insurance giant **54% to 3$65 as the company's 2024 premium growth guidance was lower than market expectations.
Shares of jewelry brand Lovisa jumped 104% to 27$30, which has accumulated **176% over the past 5 years. Previously, the company announced that net profit increased by 104% to $53.5 million.
Reference: Australian Financial Review.
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