It also shows the cracks in the resource industry & how heavily reliant the both the Australian Economy & the index weight they provided ---- if resource demand really does get into trouble the impacts on Australian market as a whole will be a whole lot uglier - you only have to look back to the time where resource demand wasn't as extravagant as reecent years....
Heres a couple of quick comparison charts over 2011 & how the year is winding up --- CBA VS RIO & XJO VS DJIA - it doesn't take much to spot the similarities.
Currency is also a big factor - has never been valued so highly in its time - i guess it comes down to if you are valuing peformance based on company & stock peformance or wether it is based on assets you own.
Although many argue as is seen by the peformance of their stocks and the rife complaints personally i love the high Aud & makes travel so much better than it was 10 or 20 years ago.
under performing, page-14
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Last
8,395.7 |
Change
95.500(1.15%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,300.2 | 8,402.2 | 8,300.2 |
| XJO (ASX) Chart |