Healthcare and Technology Stocks Show Significant Growth in the First Month of the Trading Year 2023

Must Read

Australian investors were pleased to see their ASX S&P 200 portfolio remain relatively steady despite the fluctuations seen in other major markets.

The “lead” of US stock markets has caused shares of ASX-listed companies to increase or fall over a large portion of the trading year, which has affected investors. 

The S&P 500 is preferred by finance experts in the US because “it appears to be more indicative of the US economy, despite the fact that the Dow Jones Industrial Average (DJIA) predominates much of the global financial reporting on market conditions in the US.”

According to recent reports, The US S&P 500 decreased by 19 per cent while the NASDAQ Index, home to many US and international IT firms, dropped 33 per cent.

Meanwhile, the ASX S&P 200 dropped merely 5.5 per cent, but the ASX XTX All Technology Index dropped 32.8 per cent, maintaining pace with the US NASDAQ. Healthcare, another once-popular industry, had a decline of 8.4 per cent.

As the first month of the Trading Year 2023 draws a close, “small and midcap stocks in the healthcare and technology sectors are increasing,” a google finance chart showed.

However, not all technology or healthcare equities have increased in value year to date. Cronos Australia Limited (CAU), the best-performing company in the XHJ in 2022, increased 200 per cent, while the stock price decreased 18.3 per cent in 2023.

Kazia Therapeutics Limited (KZA), a biotechnology company that creates anti-cancer medications, experienced a 93 per cent decline in 2022 but started 2023 strong and is currently up 25 per cent.

Volpara Health Technologies (VHT), a company specialising in medical imaging, saw a decline of 11.24 per cent from January 20 to January 20, 2023.

LBT Innovations (LBT), a manufacturer of medical devices, has decreased by 35.4 per cent to January 20, 2023.

Avecho Biotechnology (AVE), a maker of inventive drug delivery systems for numerous uses, has seen a 30 per cent decline as of January 20, 2023.

With so much potential for growth in the healthcare industry, now is a great time to start investing in healthcare stocks. 

- Advertisement -spot_img
Latest News
- Advertisement -spot_img

More Articles Like This

- Advertisement -spot_img