Australian healthcare stocks rally as geopolitical concerns drive greenback appeal

ResMed

08/03/2022 01:16

** Australia's healthcare sub-index  .AXHJ  advances as much
as 2.5%, on track for its biggest daily pct gain of Feb. 17, if
gains hold
    ** U.S. export-reliant domestic healthcare stocks gained on
a strong dollar  =USD  as markets fretted over global economic
growth amid rising crude prices  USD/   O/R 
    ** Top gainer is sector heavyweight biopharma co CSL Ltd
 CSL.AX , up over 3%, followed by ASX-listed shares of Resmed
Inc  RMD.AX , up 2.6%
    ** CSL is among the top three gainers on the broader ASX 200
benchmark index  .AXJO 
    ** AXHJ tops gains on ASX 200, which is down 0.2% 
    ** So far this year, sub-index down 16%, compared to a 5.5%
decline in the benchmark AXJO index

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))