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S&P/ASX 200 (XJO) set to fall, CBA & WBC share price knocked

Australia's S&P/ASX 200 (INDEXASX: XJO) price is expected to fall 0.5% at the open on Thursday after the Commonwealth Bank of Australia (ASX: CBA) share price and Westpac Banking Corp (ASX: WBC) share price were rocked by higher rates.

Australia’s S&P/ASX 200 (INDEXASX: XJO) price is expected to fall 0.5% at the open on Thursday according to ASX 200 futures prices in Sydney.

This follows the Commonwealth Bank of Australia (ASX: CBA) share price and Westpac Banking Corp (ASX: WBC) share price being rocked by higher rates.

Interest rates do a take-down on bank shares & ASX 200

The ASX 200 was weighed down on Wednesday by Australia’s largest banks, with broad-based heavy falls across all of the ASX bank shares following the RBA’s decision to increase rates 0.5% on Tuesday.

You can see why the ASX 200 ended lower:

  • WBC share price – down 6.1%
  • CBA share price – down 4.4%
  • National Australia Bank (ASX: NAB) share price – down 4%
  • ANZ Banking Group (ASX: ANZ) share price – down 2.3%
  • Bendigo Bank (ASX: BEN) share price – down 7%

Energy shares get a green light

On the flipside, Wednesday’s positive performers were energy shares. Is it any wonder why?

This Tweet from property investor and economist Pete Wargent tells a story:

Here are the ASX’s best performers from Wednesday:

Today is going to be an interesting day for ASX investors. Will lithium prices continue to weigh on more speculative plays? Will oil and gas stocks keep firing?

Here I was thinking that modestly increasing interest rates would actually be good for bank profit margins and dividends… I guess time will tell.

If you’re looking for a way to extract fully franked dividends and reduce volatility in your portfolio, I highly recommend you watch (or bookmark) the following interview with my friend and financial planner Drew Meredith, CFP.

Drew and I spoke about our top 5 ETFs for investing in Australian shares, including Vanguard Australia Shares ETF (ASX: VAS), VanEck’s Equal Weight ETF (ASX: MVW) and iShares S&P/ASX 200 Core ETF (ASX: IOZ).

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account. (Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

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Picture of Owen Raszkiewicz

Owen Raszkiewicz

Owen is the Chief Investment Officer of Rask Invest and Founder of Rask. Since founding The Rask Group in 2017 in the hillside suburb of Upwey, Victoria, Owen has overseen the growth of the Rask platform to over 200,000 investor followers. He holds a Master's Degree of Applied Finance, Master's Degree of Financial Planning, and Bachelor's Degree in Technology.
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