Australian Market of December 1: Investors Aware of Weak Outlook
On Friday, the Australian share market benchmark S&P/ASX200 index closd 154.5 points, or 4.3% higher, to 3742.5, while the broader All Ordinaries jumped 144.5 points, or 4.1%, to 3,672.7. The market experienced a best week for the two indexes since the recent two months, delivering weekly gains of 9.5% and 8.4%, respectively. However, the weak economic data and profit outlook would send the local market lower despite the strong lead from overseas markets. The news about RBA's expected aggressive rate cut will dominate the market this week.
