Indices: Australian ASX 200
The ASX200 was already strong before the RBA’s move yesterday but it literally took off following the moderate 0.25% hike, the market ultimately closed up +1.65% within striking distance of the psychological 7000 area. With the index up 113-points and all 11 sectors rallying not surprisingly gains were broad-based, the “risk on” theme is slowly…
The ASX200 enjoyed a strong end to October rallying over 1% following in the footsteps of Wall Street on Friday night – the ASX200 ended the month up +6% as we now head towards the seasonally strongest period of the year. Outside of the Resources/Energy Sectors losers were fairly thin on the ground as only 20% of the main board declined on the day – the RBA’s rate decision today didn’t appear to unnerve too many investors i.e. a controlled rate rise is “old news”.
