Data Insights

Almost 25% of the ASX 200 hit a fresh 52-week low in the past week

Mon 09 Oct 23, 3:15pm (AEST)
Down 7 Crisis Red Crash
Source: iStock

Key Points

  • Almost a quarter of ASX 200 companies have hit fresh 52-week lows in the past week, indicating extremely low breadth and concentration towards underperforming sectors like Real Estate, Materials and Industrials
  • The number of REITs falling to 52-week lows has accelerated in recent weeks due to the unrelenting yield backup in the US
  • Even darling stocks with defensive earnings like Amcor, CSL, Transurban, Coles and Telstra have slumped to 52-week lows

Welcome back to the 52-week Series – A recap of ASX 200 stocks marking yearly highs and lows in the past week.

52-Week Highs and Lows by Sector:

  • Real Estate: Highs 0, Lows 15

  • Materials: Highs 1, Lows 7

  • Industrials: Highs 0, Lows 5

  • Staples: Highs 1, Lows 4

  • Healthcare: Highs 1, Lows 4

  • Discretionary: Highs 0, Lows 3

  • Financials: Highs 0, Lows 3

  • Technology: Highs 0, Lows 3

  • Utilities: Highs 0, Lows 1

  • Energy: Highs 1, Lows 0


Stocks at 52-Week Highs

Ticker

Company Name

Close Price

Sector

1 Year

ALL

Ramelius Resources

$1.635

Materials

147.7%

DRR

United Malt Group

$4.95

Staples

62.3%

HUB

Karoon Energy

$2.585

Energy

19.1%

ORG

Pro Medicus

$82.96

Healthcare

63.4%


Stocks at 52-week Lows

Ticker

Company Name

Close Price

Sector

1 Year

EVT

EVT

$10.71

Discretionary

-17.5%

SGR

The Star Entertainment

$0.6

Discretionary

-72.9%

TAH

Tabcorp

$0.95

Discretionary

-2.1%

CNI

Centuria Capital

$1.335

Financials

-12.2%

MFG

Magellan Financial

$6.755

Financials

-34.0%

PPT

Perpetual

$20.06

Financials

-14.3%

ANN

Ansell

$21.93

Healthcare

-15.3%

CSL

CSL

$252.71

Healthcare

-10.8%

HLS

Healius

$2.195

Healthcare

-33.9%

PNV

Polynovo

$1.227

Healthcare

-26.1%

ALX

Atlas Arteria

$5.48

Industrials

-11.0%

CWY

Cleanaway

$2.355

Industrials

-12.8%

QAN

Qantas Airways

$4.915

Industrials

-5.5%

SQ2

Block Inc

$68.01

Industrials

-23.6%

TCL

Transurban

$12.43

Industrials

-1.0%

AMC

Amcor PLC

$14.09

Materials

-17.0%

AWC

Alumina

$0.92

Materials

-26.7%

CHN

Chalice Mining

$2.26

Materials

-41.0%

IGO

IGO

$11.185

Materials

-27.1%

ILU

Iluka Resources

$7.42

Materials

-20.5%

MIN

Mineral Resources

$61.14

Materials

-13.7%

WAF

West African Resources

$0.7

Materials

-30.7%

ARF

Arena Reit

$3.35

Real Estate

-1.8%

BWP

BWP Trust

$3.38

Real Estate

-10.1%

CHC

Charter Hall

$9.18

Real Estate

-22.0%

CLW

Charter Hall Long Wale

$3.155

Real Estate

-21.7%

CMW

Cromwell Property Group

$0.347

Real Estate

-48.1%

CQE

Charter Hall Social Infrastructure

$2.515

Real Estate

-19.9%

CQR

Charter Hall Retail

$3.095

Real Estate

-18.3%

GOZ

Growthpoint Properties

$2.06

Real Estate

-32.9%

GPT

GPT Group

$3.795

Real Estate

-1.9%

LLC

Lendlease

$6.77

Real Estate

-21.4%

NSR

National Storage

$2.185

Real Estate

-3.3%

RGN

Region Group

$2.04

Real Estate

-16.1%

SCG

Scentre Group

$2.465

Real Estate

-4.5%

VCX

Vicinity Centres

$1.722

Real Estate

-1.9%

WPR

Waypoint Reit

$2.26

Real Estate

-8.9%

A2M

The A2 Milk

$4.115

Staples

-25.1%

BGA

Bega Cheese

$2.535

Staples

-25.9%

COL

Coles Group

$15.435

Staples

-5.9%

ELD

Elders

$5.56

Staples

-55.0%

IRE

Iress

$5.42

Technology

-41.5%

PXA

Pexa Group

$10.27

Technology

-25.9%

TLS

Telstra

$3.79

Technology

-0.8%

APA

APA Group

$8.12

Utilities

-14.1%


Key themes and takeaways:

  • That's a lot of 52-week lows: Almost a quarter of ASX 200 constitutes have hit fresh 52-week lows in the past week. Breadth is extremely low and concentrated towards underperforming sectors like Real Estate, Materials and Industrials. That said, stocks have the tendency to bottom when breadth is the worst.

  • Real estate pains: The number of REITs falling to 52-week lows has only accelerated in recent weeks. The unrelenting yield backup has seen the US 10-year yield rally 23 bps in October and 150 bps off of May lows. According to Macquarie, the correlation between the 10-year yield and a REIT like Charter Hall's price-to-earnings is -0.75. "So one might have to wait for the long end of the rate curve to ease before the stock bounces back in a sustainable manner," the analysts said in a note last week.

  • Quality is not having a good time: Darling stocks with defensive earnings like Amcor, CSL, Transurban, Coles and Telstra have all slumped to 52-week lows.

 

Written By

Kerry Sun

Content Strategist

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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