Stock market wrap: after ASX battering, media shares finally see upticks

After last week’s obliteration of the value of most media and tech stocks, things are looking up across the board for holding companies.

Last week saw the ASX suffer its biggest weekly loss since 2020, but investor fears of a global economic downturn appear to have tempered as the ASX makes a recovery this week. Rising interest rates and fiscal policies enacted by the RBA and US Federal Reserve saw investors collectively fearing that attempts to curb inflation were threatening economic growth.