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The financial topic discussed this fortnight was portfolio turnover. The latest edition also contained the following Market Update:
Market News
Market Indices
Since our previous edition, Australian and global sharemarkets have seen strong gains. The S&P ASX200 Index has risen 2.38% from the 26th November to the 10th of December, up 16.85% for the calendar year so far. The S&P Global 1200, a measure of the global market, has risen 5.79% over the same period, placing the index up 11.50% for the year.
Emerging markets also saw positive movement with the MSCI Emerging Markets Index rising 5.11% for the fortnight. It is up 32.81% for the year so far. Scott Keefer is again in Indonesia visiting his wife's family. He reports that the Jakarta Stock Exchange (JSX) Composite Index has risen 54.54% over the year (5.37% in the past fortnight).
Property trusts have also experienced a strong rebound over the past fortnight with the S&P ASX 200 Property Trust Index rising by 1.47%, to be down 1.49% for the year so far. The S&P/Citigroup Global Real Estate Investment Trust (REIT) Index, a measure of the global property market, rose 8.82 % for the fortnight, and has fallen 6.91% this year so far.
Exchange Rates
As of 4pm the 10th December, the value of the Australian dollar had fallen again over the past fortnight with the Aussie dollar down 0.85% against the US Dollar at .8764, but still up 10.75% for the year so far. It was also down 0.29% against the Trade Weighted Index at 68.3, still up by 5.24% for the year so far. (The Trade Weighted Index measures The Australian dollar against a basket of foreign currencies.)
General News
The ABS has released the 3rd quarter economic growth figures with the Australian economy growing by 1.0% in the September quarter and by 4.3% through the year. Last Tuesday, the board of the Reserve Bank of Australia decided to keep the target cash rate at 6.75%.
