The S&P/ASX 200 Index rose 0.25% to close at 6,629 on Tuesday, extending gains in the previous session, after the Reserve Bank of Australia raised its policy rate by 50 basis points in a widely expected move and refused to offer a more hawkish forward guidance that some had hoped for. Analysis also pointed out that the policy statement appears to confirm that the board only debated either a 50 or 25 basis point increase, and not the 75 bps that some speculations suggested. Energy stocks led the advance amid higher oil prices, with notable gains from Woodside Energy (3.8%) and Santos Ltd (0.4%). High-growth technology and healthcare stocks also climbed, including Xero (2.3%), Seek Ltd (3.5%), Block In (2%), CSL Ltd (1.5%) and Resmed Inc (0.9%). Elsewhere, mining, gold and clean energy-related stocks mostly advanced, while banking shares declined.
Historically, the Australia Stock Market Index (AU200) reached an all time high of 7632.80 in August of 2021. Australia Stock Market Index (AU200) - data, forecasts, historical chart - was last updated on July of 2022.
The Australia Stock Market Index (AU200) is expected to trade at 6388.17 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 5953.93 in 12 months time.