Nov 27 2020
S&P/ASX 200 dips 0.67%; China imposes anti-dumping measures on Australian wine

S&P/ASX 200 (INDEXASX:XJO) has dipped further from its nine-month peak but is still on track for another positive week.


The index is set for a significant monthly gain of about 10.5% despite a 0.67% fall to 6592 points by 1.34 pm today.


Financials, materials, energy and healthcare sectors were leading the losses today with only communications and property sectors improving.


The big four banks are all in negative territory with ANZ Bank (ASX:ANZ) falling the most, down 1.72%.


Chinese anti-dumping duty on Australian wine


The world’s largest listed winemaker, Treasury Wine Estates (ASX:TWE), halted trading until Tuesday as AFP reported that China has imposed anti-dumping measures on Australian wine.




Importers bringing in investigated products will need to pay deposits to China’s customs authority, which will be calculated based on different rates the authority has assigned to various companies, according to a statement by China’s commerce ministry.


Treasury Wine is required to pay a rate of 169.3%, the highest among all the named wine firms in the statement.


Top gainers


Today’s top gainers on the ASX include Creso Pharma Ltd (ASX:CPH) (+12.50%), Calima Energy Ltd (ASX:CE1) (+14.29%), Strategic Elements Ltd (ASX:SOR) (+14.81%), Ironbark Zinc Limited (ASX:IBG) (+8.70%), Lake Resources N.L. (ASX:LKE) (+14.52%), Walkabout Resources Ltd (ASX:WKT) (+14.29%) and Linius Technologies Ltd (ASX:LNU) (+7.89%).


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