The ASX 200 gained 55.60 points or 0.84% to 6663, lifting from early losses that saw the index trading at 2-month lows as the headline-grabbing battle between retail investors and Wall Street continued. The sentiment was further buoyed by data showing new housing loan approvals in Australia rose by 8.6% mom and 31.2% yoy in December, while job advertisement rose for an eighth straight month in January to levels last seen in April 2019. Among individual stocks, Argent Minerals soared 59.65% while Adriatic Metals jumped about 19.82% as spot silver prices rose more than 5%. Meantime, US senators urged President Joe Biden on Sunday to significantly downsize his sweeping $1.9 trillion COVID-19 relief package to win bipartisan support as Democrats in Congress are prepared to push ahead with his plan this week.
Historically, the Australia S&P/ASX 200 Stock Market Index reached an all time high of 7199.79 in February of 2020. Australia S&P/ASX 200 Stock Market Index - data, forecasts, historical chart - was last updated on February of 2021.
The Australia S&P/ASX 200 Stock Market Index is expected to trade at 6543.07 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 6195.92 in 12 months time.