The ASX 200 added 48.50 points or 0.70% to 7025.40 on Wednesday, trading at fresh 13-month highs as local data showed that consumer confidence surged 6.2% mom to an 11-year high. Westpac chief economist Bill Evans noted that the result is particularly pertinent given that the unwinding of JobKeeper was expected to disproportionately impact recreation and hospitality. Meantime Local 10-year yields eased to 1.704% while US 10-year bond yields held around 1.625% after data showed US inflation was not rising wildly. Among individual stocks, Resolute Mining Ltd jumped 13.83% after the company's mining lease in southwest Ghana was reinstated. Looking ahead, market participants await the release of the jobless rate figure for March later in the week, while the earnings season in Wall Street is set to kick off later in the day.
Historically, the Australia S&P/ASX 200 Stock Market Index reached an all time high of 7199.79 in February of 2020. Australia S&P/ASX 200 Stock Market Index - data, forecasts, historical chart - was last updated on April of 2021.
The Australia S&P/ASX 200 Stock Market Index is expected to trade at 6851.32 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 6487.82 in 12 months time.