The Australian Securities Exchange (ASX) closed at 5,349.7 points today, down 18.2 points from the last session. However, despite that drop — likely caused by lackluster Chinese factory activity information released New Year’s Day — Australian shares gained 0.4 percent for the week, according to The Sydney Morning Herald.
The news outlet also notes that fluctuations in the market this week were exaggerated by a low trading volume. The total value of shares traded this past week was approximately $956 million in contrast to an average of around $3.64 billion for each of the first three weeks of December.
Metals and mining stocks led the week’s gains, with one of today’s top gainers being Silver Lake Resources (ASX:SLR). That company, which is involved in gold and copper exploration and production, gained 8.66 percent for a final price of $0.69. Turkey- and Australia-focused Alacer Gold (ASX:AQG) also rose today, increasing 5 percent to a price of $2.52.
Among the mining companies that fell today was Aquila Resources (ASX:AQA), which dropped 6.36 percent to a price of $2.21. The company is engaged in the exploration and development of coal, iron ore and manganese resources.