New Stockmarket High
The All Ordinaries Index for the Australian Stockmarket reached a new high in March 2004 at 3448.5 during trading on Thursday 18 March. This exceeded the previous high of 3443.9 two years ago on Valentines day, 14 February 2002.
It's been a roller coaster two years between these two highs with a low point mid way between on 13 March 2003 at 2666.3 or 23% below the previous high.
It can be a longer time between highs in the stock market than two years. Longest period observed by FinDem for the Australian Stock market was 9 years and 8 months between January 1970 and September 1979. During this period the market index fell to 55% below the 1970 high in October 1974.
Posted Sunday, 4 April 2004
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