How much is the Australian Stock Market Index worth?

The index has a base value of AUD3133.3, equal to the value of the All Ordinary Shares as of March 31, 2000. The main stock market index in Australia (AU200) increased 463 points or 6.58% since the beginning of 2023, according to trading on a contract for difference (CFD) that tracks this benchmark index from Australia.

Will Australian stocks open higher in 2023?

Australian shares are set to open higher, as the fed-fueled rally extended gains on Wall Street. ASX futures were up 0.6% or 48 points as of 8:30am on Friday, suggesting a higher open. US stocks added to gains to end at new highs for 2023 after the Fed confirmed expectations that it is leaning toward multiple rate cuts next year.

What's going on with Australia's 'All Ordinaries index'?

The broader All Ordinaries Index is up 12.00 points or 0.16 percent to 7,739.80. Australian markets ended notably lower on Thursday. Among major miners, Rio Tinto and BHP Group are edging up 0.3 to 0.4 percent each, while Fortescue Metals and Mineral Resources are gaining more than 1 percent each.

Are investors pessimistic on the Australian Stock Market?

Investors are pessimistic on the Australian market, indicating that they anticipate earnings will not grow as fast as they have historically. The market is trading at a PE ratio of 21.0x which is lower than its 3-year average PE of 23.8x. The earnings for Australian listed companies have grown 41% per year over the last three years.