Australian shares shoot up $38 billion: What coronavirus?
After seven consecutive days of losses, the Australian sharemarket has bounced back.
The ASX200 index was up 1.64 per cent in the first 30 minutes of trading on Tuesday morning, which is roughly a gain of $38 billion. The All Ordinaries rose 1.75 per cent.
The rise follows massive gains in the US overnight, with the Dow Jones index jumping 5.1 per cent, which set a new single-day record.
The rebound was triggered by expectations that central banks around the world would come to the rescue with interest rate cuts and other emergency measures to counter the devastating impact of the coronavirus, or COVID-19, outbreak.
Read more: https://au.finance.yahoo.com/news/australian-shares-shoot-up-16-billion-dollars-234820579.html
The ASX200 index was up 1.64 per cent in the first 30 minutes of trading on Tuesday morning, which is roughly a gain of $38 billion. The All Ordinaries rose 1.75 per cent.
The rise follows massive gains in the US overnight, with the Dow Jones index jumping 5.1 per cent, which set a new single-day record.
The rebound was triggered by expectations that central banks around the world would come to the rescue with interest rate cuts and other emergency measures to counter the devastating impact of the coronavirus, or COVID-19, outbreak.
Read more: https://au.finance.yahoo.com/news/australian-shares-shoot-up-16-billion-dollars-234820579.html
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