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Aussie share market hits all-time high, wiping out pandemic losses

Business

Australia’s share market has climbed to the highest level in its history – as traders look ahead to a COVID-19 vaccinated world.

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The main index, the ASX200, reached its record intra-day high in the first 10 minutes of trading on Monday.

The index has since bettered that level and raised the record to 7203.3 points.

The feat comes after the ASX200 had a record closing high on Friday.

Meanwhile the All Ordinaries on Monday also notched its highest level in history.

The index of the top 500 companies rose to 7448.3.

The share market reached record levels in February last year, before the coronavirus pandemic prompted a sharp downturn.

The development of vaccines in the latter part of 2020, as well as low interest rates to help stimulate economies, boosted investors’ confidence.

At 1050 AEST, the ASX200 was higher by 18.8 points, 0.26 per cent, to 7198.3.

The All Ordinaries was up 15.7 points, or 0.21 per cent, to 7439.7.

 

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