The ASX 200 is off 11.47% year to date but the sell-off in small caps has been more savage, with Small Ordinaries down 23.72%, while the All Ordinaries Gold sub-index is down 8.27%.ĭespite that the ASX 200 Resources and ASX 300 Metals and Mining Indices have been resilient, up 8.02% and 3.33% respectively and the ASX 300 Energy index is up a crazy 29.72% on rampaging coal, oil and gas prices following Russia’s invasion of Ukraine. While the local indexes are not quite in bear market mode, some are well down in 2022. On the other the prospect of rising metals demand from China that had kept our mining heavy major indexes afloat last week dissipated as word emerged of new localised Covid restrictions in Shanghai. On one hand the losses that circled clockwise through the drain in North America went the other way down the dunny pipes Down Under. Gold, battery metals and energy are the mining sectors most likely to hold their value as inflation and rising interest rates send shockwaves through equity markets, mining gurus say.Īustralian investors have been shielded from a bear market emerging at quickening pace in the US, where the tech-centric NASDAQ has blown up in the wake of 40-year highs in inflation.īut those chooks finally came home to roost on Tuesday as the local bourse lost $90 billion of value as a rare double-whammy of economic news throttled the ASX 200. Minelife’s Gavin Wendt and Argonaut’s George Ross give us seven small caps for tough times.Liam Twigger: stocks with ‘clear pathway’ to production and funding will benefit.Mining experts say gold, battery metals and energy could provide safe havens.
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