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Topsy Turvey Stockmarkets

The Australian stock market (All Ordinaries Price Index) ended 2003 up 11.1% for the calendar year. This compares to down 11.4% for calendar year 2002. Based on the FinDem Research Centre graph for the last 20 calendar years, there have been 6 negative years (worst -22.4% in 1990) and 14 positive years (best 46.8% in 1986).

Compared to other world stock markets (using MSCI price indices) Australia ranked 3rd lowest in 2003 (lowest Finland -2.9% where Nokia makes up a major portion of that country's stock market, and highest Norway +38.1%). In 2002 Australia ranked 3rd highest (lowest Germany -44.0% and highest Austria -3.0%).

Posted Saturday, 3 January 2004


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