Australian Economy

Australian Market Report of March 24: Encouraging Rescue Plan and Economic Data

🕔3/24/2009 1:00:02 PM

Yesterday the Australian shares surged on hope of the US bailout plan to remove bad debts from banks. The benchmark S&P/ASX200 index ended 2.4% higher, or 84.5 points at 3550.3, a six-week high, while the broader All Ordinaries index was up2.3%, or 78.1 points, at 3483.1. Investors are getting more confident to return to the stocks market as they believe it has hit the bottom. But analysts warned that fundamental issues in economy have not been solved and it will not be a long term rally although the market is in the third week of rises.

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Australian Market Report of March 23: Awaiting Plan on US Toxic Assets

🕔3/23/2009 1:00:47 PM

The Australian share market closed marginally lower as financial stocks plunged. The benchmark S&P/ASX200 fell 14 points, or 0.4 per cent, to close at 3465.8, while the broader All Ordinaries was down 11.4 points, or 0.33 per cent, to 3405.0. Analysts said it will be difficult for the market to rally as the previous two weeks. The rise in the period took the S&P/ASX200 index up by more than 10%.

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Australian Market Report of March 20: Investors Digested Recent Rallies

🕔3/20/2009 1:15:02 PM

Yesterday Australian shares closed 1% higher as most sectors surged. The benchmark S&P/ASX200 index rose 33.9 points, at 3480.2 while the All Ordinaries index was up 0.9%, or 30.60 points, at 3416.8. The local mining and energy sectors could be buoyed by the rising gold and oil prices today despite the negative lead from the US.

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Australian Market Report of March 19: Exciting News Once Again

🕔3/19/2009 1:00:54 PM

Yesterday Australian shares lost their early gains and ended lower, dragged by big miners. The benchmark S&P/ASX200 index was down 0.2%, or 5.6 points, at 3446.3, while the broader All Ordinaries index fell by 0.2%, or 7.2 points, at 3386.2.

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Australian Market Report of March 18: Steady Gains Prospect

🕔3/18/2009 1:00:44 PM

Yesterday the Australian share ended 3.1% higher lifted by banks and miners. The benchmark S&P/ASX200 index gained 103.5 points at 3,451.9, while the broader All Ordinaries index was up 96.1 points, or 2.91 per cent, to 3,393.4. Today the local market has delivered a strong opening boosted by Wall Street's rally.

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Australian Market Report of March 17: Wall Street Rally Ended

🕔3/17/2009 1:00:13 PM

Yesterday the Australian market closed marginally higher as financial stocks surged. The benchmark S&P/ASX200 index gained 0.1%, or 3.2 points at 3348.4, while the broader All Ordinaries index was up 0.1%, or 2.6 points, at 3297.3. Australian shares may receive support from the stronger copper and oil prices, despite the falls on Wall Street.

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Australian Market Report of March 16: End of the Bear Market?

🕔3/16/2009 1:00:00 PM

On Friday the Australian stocks posted a strong gain with financial sector soaring 5.3%, capping the best week for the market in three months. The benchmark S&P/ASX200 index ended 3.4% higher, or 109.7 points, at 3345.2, while the broader All Ordinaries index was up 3.3%, or 104.3 points, at 3294.7. The ASX200 rose 6% for the week. But analysts say that it is too early to say the bear markets end, although the US banks delivered turnarounds.

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