Stock Market Recovery In Sight?
Friday March 27, 2009
The recent one percent rise on the ASX 200 cements a 10 week high as March promises to deliver the biggest gains in 21 years. It has many investors asking if the stock market is beginning to stabilise even quicker than largely predicted.
Wall St extended its rally to indicate similarly impressive gains, and the S&P 500 showed gains of two percent after solid economic growth reports and joblessness expectations closely in line with expectations. This has been tracked in other major stock markets around the world, including in Japan and Hong Kong.
Stocks in Tokyo have risen to a two-and-a-half month high as Japanese market tracks the US Wall St rally, and it seems investors everywhere are beginning to put trust in stock market recoveries around the world. Could this perhaps signal the return of the consistent bull market?
This is the question on many stock trader's lips, and other market indicators, such as the All Ordinaries, also gained over 40 points over the last month. The Australian dollar traded at close to 70 cents against the US dollar at the time of writing, showing good signs.
While it's too soon to tell whether the current rally will stick around, experts are certainly showing refreshing sign of optimism for the first time since the devastating crash realised after the US sub-prime mortgage crisis hit home. Whether recovery is closer at hand or not, Australian financial institutions remain well placed to whether future stock market storms.
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