ASX ends rough week on a high
The Australian sharemarket ended the week on a positive note, closing 0.8 per cent higher on Friday.
Myriam Robin is a markets reporter based in the Financial Review's Melbourne newsroom.
The Australian sharemarket ended the week on a positive note, closing 0.8 per cent higher on Friday.
Australia's property market is booming but in the eyes of foreign buyers it is still relatively cheap, and a new Credit Suisse report shows demand remains strong.
Buying in miners and energy stocks helped the ASX claw back some of Wednesday's heavy losses.
Of Australian managed funds that outperformed their benchmark index in 2014, only one in 10 were able to do so consistently for the following two years, S&P; has found.
The ASX shed $26 billion on Wednesday, its worst day since Donald Trump's November election victory.
Pimco has joined the chorus of global investors turning bullish on global growth prospects, saying the Trump administration's war on trade is "more symbolic than real".
China's e-commerce backflip lit a fire under major export stocks, providing the ASX with some spots of strong growth on a day dominated by blue chip losses.
The Trump-inspired reflation trade has had the greatest impact on cyclical companies highly exposed to broader economic trends.
A record wheat crop is expected to add half a percent to Australia's economic growth this year.
The ASX200 remains unable to hold gains above 5800, with broad-based losses across most sectors erasing last week's positive moment.
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