Australian share market hits a record high – eclipsing a benchmark last reached before the GFC
- Australian share market has reached a record high, surpassing a 2007 milestone
- ASX200 benchmark hit 6,874 points in early trade, overtaking pre-GFC level
- Australian Securities Exchange hadn’t set a record since John Howard was PM
The Australian share market has reached an all-time high, overtaking a record set before the global financial crisis almost 12 years ago.
The benchmark ASX200 reached 6,874 points in early trade on Tuesday morning, surpassing an intraday high set on November 1, 2007, Iress data showed.
The Australian Securities Exchange measure of the top 200 companies hadn’t set a new record since the final weeks of John Howard’s long run as Liberal prime minister.
The local share market last peaked before the onset of the GFC, sparked by the American sub-prime mortgage crisis that threatened to plunge the world economy into the worst financial meltdown since the Great Depression of the 1930s.
The ASX200 reached the milestone, days after the broader All Ordinaries index set a record.
The Australian share market has reached an all-time high, overtaking a record set before the global financial crisis almost 12 years ago