Closing Bell 31st July – Quiet finish to the month for the ASX

It was a quiet day on the ASX as the market waits for the RBA rate decision tomorrow. A small amount of corporate news shifted some of the mining stocks and the lithium sector took a hit on lower prices. Elsewhere in Asia, stocks rose, extending last week’s rally as optimism over more Chinese stimulus measures largely offset data showing business activity in the country deteriorated further in July. Hopes of fewer U.S. interest rate hikes also aided regional markets, after data on Friday showed that the Federal Reserve’s preferred inflation gauge eased in June. Japanese stocks were the best performers in the region, rebounding sharply from losses on Friday as the Bank of Japan (BOJ) carried out an unscheduled bond-buying operation to help stem a spike in yields.