(VIANEWS) – S&P/ASX ALL AUSTRALIAN 200 (AXAT) has been up by 5.66% for the last 21 sessions. At 19:08 EST on Wednesday, 30 November, S&P/ASX ALL AUSTRALIAN 200 (AXAT) is $7,346.10.
Why is S&P/ASX ALL AUSTRALIAN 200 Index Going Up?
Investing in the Australian share market index has been a good investment over the past 20 years. Although there have been some bumps in the road during the global financial crisis (GFC), the returns have been strong. It is a better investment than putting your money into a bank account.
Investors can invest in the index through Exchange Traded Funds (ETFs). These are managed funds that aim to mirror the performance of the underlying index less fees and expenses. The ETFs can be bought and sold just like common shares.
The S&P/ASX All Australian 200 (AUD) Index tracks 200 of the largest listed companies on the Australian Securities Exchange. It is the main benchmark index for the S&P/ASX family of indices. It is designed to be a more representative index of the Australian share market.
In the past 10 years, the equity market in Australia has evolved. The growth of sectors has increased the concentration of the market overall. Traditionally, the index was heavily weighted in financial stocks. The materials sector declined in both indices.
Information Technology and Healthcare increased in the S&P/ASX 200, while Energy decreased. The healthcare sector bucked the trend and grew over 7% over the past six months. While Materials declined in both indices, Fortescue Metals and Whitehaven Coal bucked the trend.
Financial stocks accounted for over 50% of the value of the ASX 200, while materials declined in both indices. Financials are among the largest listed companies in Australia.
Regarding S&P/ASX ALL AUSTRALIAN 200’s yearly highs and lows, it’s 14.96% up from its 52-week low and 3.34% down from its 52-week high.
S&P/ASX ALL AUSTRALIAN 200’s last week, last month’s, and last quarter’s current intraday variation average was 0.37%, 0.34%, and 0.89%, respectively.
S&P/ASX ALL AUSTRALIAN 200’s highest amplitude of average volatility was 0.42% (last week), 0.66% (last month), and 0.89% (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 overbought (>=80).
News about S&P 500
- According to FXStreet on Tuesday, 29 November, "Amid these plays, S&P 500 Futures print mild gains despite Wall Street’s downbeat closing whereas the US 10-year Treasury yields remain pressured around 3.69% at the latest."
- According to FXStreet on Tuesday, 29 November, "We expect S&P 500 earnings to fall 4% next year, compared to a consensus for a 5% increase in earnings based on bottom-up forecasts."
- According to FXStreet on Tuesday, 29 November, "Thisset of tweets suggests that China could soon abandon its zero-Covid policy, boosting the S&P 500 futures 0.30% higher while the AUD/USD pair recaptures 0.6700, up 0.80% on the day."
- According to Business Insider on Tuesday, 29 November, "The Dow and the S&P 500 both tumbled around 1.5 percent while the tech-heavy Nasdaq Composite gave up 1.6 percent."
More news about S&P/ASX ALL AUSTRALIAN 200 (AXAT).