The benchmark S&P/ASX 200 in Australia edged up 3 points or nearly flat to finish at 7,091 on Friday after rising modestly in the early afternoon trade, after the WHO announced that the coronavirus, which has killed 25 people in China and infected more than 800, is an emergency situation just in the country. Meanwhile, the city of Wuhan, the epicenter of the outbreak, reportedly is building 1,000-bed hospital to treat victims of the virus. Gains were led by an industrial company Downer EDI (6%) and portfolio management Netwealth (5.1%), while the biggest declines were an insurance provider IAG (-5.4%) and a software company Technology One (-5%). The Broader All Ordinaries index gained 4 points or 0.1% to end at 7,203.
Historically, the Australia S&P/ASX 200 Stock Market Index reached an all time high of 7146.98 in January of 2020.
The Australia S&P/ASX 200 Stock Market Index is expected to trade at 6678.77 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 6500.17 in 12 months time.