ASX HITS A FIVE YEAR HIGH: Here's What's Happening

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AMP Capital chief economist Shane Oliver just noted on Twitter that the ASX200 is at a five-year high.

Markets around the world are rising today as the likelihood of a military intervention in Syria by the United States recedes, and data from China continues to surprise on the high side.

As Oliver notes there are some strong domestic conditions that are helping the local share market rally. High interest rates, high Australian dollar China worries and political instability caused by minority government.

Concerns over the first three have eased, and Saturday’s federal election solved the last problem.

The ASX 200 was up nearly 0.5% to 5,227.70 at 3:07 this afternoon. Its high in 2007 was 6748.90.

Now read: Obama Answers 5 Big Questions About Syria

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