Australia’s ASX 200 has ended what has been a tough quarter with a solid increase, jumping 1.45% to 5,082.8 points.
For the quarter the index lost 4.02% — its third quarterly decline in four — leaving it down 13.73% from from 12 months earlier.
Of the major sectors, the best performances came from industrials and materials at 4.74% and 3.27% respectively. Financials, the largest index component by market capitalisation, fell by 8.3%.
While it may be little consolation for Australian-based investors, as IG Markets chief market strategist Chris Weston points out, for foreign investors the index still outperformed thanks to the rebound in the Australian dollar.
“The ASX 200 has clearly lagged of late, but on the quarter as a whole (and pricing all markets in USD’s) the index is actually up 0.6% and outperforming,” he wrote shortly before the market closed. “Compared to the Nikkei (-5.2%), FTSE (-3.3%) and China (-14.5%), it shows that things aren’t so bad.”