ASX 200 Index continues its winning streak that began on March 15. Australian equity market gains grounds despite a lower Wall Street overnight. Adam Neumann made a bid to acquire the bankrupt WeWork for more than $500 million. On Tuesday, the index trades higher around 7,800, up by 0.25%, at the time of writing. However, Wall Street experienced a modest weakness overnight. Today sees a significant drop in the A-VIX, plummeting 2.26% to 10.82. The All Ords is down by 0.25% at 8,051.
The main indices are the S&P/ASX 200 and the S&P/ASX 300, which track the performance of the 200 and 300 largest stocks by market capitalization listed on the exchange, respectively. The S&P/ASX 200 was launched in April 2000, and it is rebalanced every quarter. Which firms are the biggest contributors to the Australian stock market? Almost half of the index belongs to the financial sector, with major banks like the Commonwealth Bank of Australia, Westpac or National Australia Bank.
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