(VIANEWS) – S&P/ASX ALL AUSTRALIAN 200 (AXAT) has been up by 5.27% for the last 21 sessions. At 19:08 EST on Wednesday, 16 November, S&P/ASX ALL AUSTRALIAN 200 (AXAT) is $7,111.20.

Why is S&P/ASX ALL AUSTRALIAN 200 Index Going Up?

The S&P/ASX ALL Australian 200 Index is a measurement of the performance of Australian stocks. It covers 10 different sectors and is dominated by large, financially-oriented companies. The top 10 constituents account for more than 50% of the index’s total value, with the Commonwealth Bank of Australia being the largest.

Among Australian stock market indices, the S&P/ASX 200 index is one of the most widely used. It comprises the 200 largest companies in the country, as measured by market capitalization. It is a benchmark for the Australian stock market, and is comparable to the FTSE 100 and Dow Jones indices in the US.

In recent years, both the S&P/ASX 200 Index and the S&P 500 have exhibited similar dynamic. The value-led comeback has been largely driven by the United States, Europe, and Japan. In Australia, Australian investors haven’t traditionally been as style-aware when it comes to domestic equity exposure. However, the growth component of the S&P/ASX 200 has been the exception.

Despite the recent volatility in the stock market, there are several positive signs. The ANZ banking group, Pendal Group, and Westpac are all gaining. On the negative side, Evolution Mining, Gold Road Resources, and Northern Star Resources are all shedding nearly 1 percent of their stock value. Meanwhile, Newcrest Mining and Resolute Mining have lost less than one percent. Further, shares of Queensland Pacific Metals are up 17 percent, boosted by news that General Motors will invest $69 million in the company.

About S&P/ASX ALL AUSTRALIAN 200’s yearly highs and lows, it’s 11.29% up from its 52-week low and 6.43% down from its 52-week high.

Volatility

S&P/ASX ALL AUSTRALIAN 200’s last week, last month’s, and last quarter’s current intraday variation average was 0.70%, 0.27%, and 0.96%, respectively.

S&P/ASX ALL AUSTRALIAN 200’s highest amplitude of average volatility was 1.14% (last week), 0.90% (last month), and 0.96% (last quarter), respectively.

Index Price Classification

According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, S&P/ASX ALL AUSTRALIAN 200’s is considered to be oversold (<=20).

News about S&P 500

  • According to FXStreet on Tuesday, 15 November, "While portraying the mood, S&P 500 Futures print mild gains but the US 10-year Treasury yields grind higher around 3.87%, which in turn underpins the US Dollar Index (DXY) recovery, up 0.08% intraday near 107.00 by the press time."
  • According to FXStreet on Tuesday, 15 November, "Amid these plays, S&P 500 Futures print mild gains but the US 10-year Treasury yields grind higher around 3.87%, which in turn underpins the US Dollar Index (DXY) recovery, up 0.08% intraday near 107.00 by the press time."
  • According to FXStreet on Tuesday, 15 November, "Amid these plays, S&P 500 Futures remain sidelined near 3,975-80 after reversing from a two-month high the previous day. "
  • According to MarketWatch on Tuesday, 15 November, "The stock has rallied 4.1% over the past three months, while the S&P 500 has shed 7.9%."
  • According to FXStreet on Tuesday, 15 November, "Against this backdrop, S&P 500 Futures print mild gains but the US 10-year Treasury yields grind higher around 3.87%, which in turn challenges the US Dollar Index (DXY) recovery near 107.00 by the press time."

More news about S&P/ASX ALL AUSTRALIAN 200 (AXAT).