XJO (TOP 200) Aussie Stock Market Index Update, for December 2024.
Posted 7 January by Dr Jo
"The Future has no Facts..." Simon Gresham, MFS Financial, 2024.
Farewell to 2024 and Happy New Year All!
Australian shares ended 2024 on a cautious note, with the ASX 200 slipping nearly 1% on its final trading day to close at 8,159.10. Concerns surrounding Wall Street’s tech-driven rally, China’s economic health, and the US Federal Reserve’s outlook weighed on investor sentiment. Key sectors like financials, mining, and technology struggled, with notable declines from BHP, Rio Tinto, and WiseTech Global.
Despite these challenges, the ASX 200 achieved its best annual performance in three years, gaining 8%. This growth was primarily driven by robust banking sector performance.
As we step into 2025, the focus is on Chinese economic data and Australia’s PMI releases. Optimism is growing around a potential Reserve Bank rate cut, which could signal a shift toward easing monetary conditions and support investor sentiment. However, global volatility—particularly from the US and China—may keep market investors cautious. The mining and tech sectors could also remain under pressure, while financials and consumer discretionary stocks may find opportunities amidst softening inflation trends.
Looking ahead, analysts and market commentators express cautious optimism for a bullish 2025. Speaking at the recent Morningstar Investor Conference, Simon Gresham of MFS Investment Management reflected on market uncertainties, noting, “The future has no facts.” It’s a reminder that while the future—and the stock market—remains uncertain, opportunities (and risks) are always present.
ASX50 Top 'Blue Chip' Stocks
Some of the BIGGEST GAINERS in 2024
Pro Medicus (PME)... up 124% (since May '24) Car Sales (CAR) ... up 95% (since August '22) Aristocrat Leisure (ALL)... up 77% (since May '24) Goodman Group (GMG)... up 92% (since Jan '24) James Hardie Industries (JHX)... up 80% (since Jan '24) XERO (XRO)... up 117% (since Feb '24) |
We are excited about the possibilities 2025 holds and remain committed to providing our community with quality education, tools, and resources to support your investing journey.
Have a great week all!
Market Monkey Team (Jodi, Chris and Chloe)
...don't play by the rules
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