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Both Australian And New Zealand Equity Markets Finished May With Gains

Sherifa Issifu, Analyst, Index Investment Strategy at S&P Dow Jones Indices has analysed the Australian and New Zealand markets for May 2020 noting that both the S&P/ASX 200 and S&P/NZX 50 finished the month with gains. Gains were made across the capitalization ranges of Australian stocks, with the smaller segments leading the pack. Information Technology led the way among Australian sectors.

HIGHLIGHTS:

  • A growing prospect of a local return to normal and the potential reopening of major international trading partners boosted equities in Australia and New Zealand this month. The S&P/ASX 200 and S&P/NZX 50 Portfolio gained 4% and 3%, respectively.
  • Gains were made across the capitalization ranges of Australian stocks, with the smaller segments leading the pack. The S&P/ASX Small Ordinaries and S&P/ASX Emerging Companies indices both posted double-digit returns in May, gaining 11% and 14%, respectively.
  • Information Technology led the way among Australian sectors, gaining 15% this month, and the sector now boasts a positive total return both for 2020, and over the past 12 months. Health Care struggled to a decline of 5%, although the sector remained in positive territory for the year.
  • Riding on the resurgence of smaller companies, the S&P/ASX 200 Equal Weight was the best-performing equity index on our dashboard, gaining 15% in May. Momentum also had a strong month, our index added 11%.
  • Amongst Australian thematic equity indices, the S&P/ASX 200 Resources rose a solid 8%, led up by gains in the prices of gold, iron ore and most notably oil.
  • Nearly all our reported Australian and New Zealand fixed income indices finished the month with gains. Inflation-linked bonds rose the most, gaining 2% and 4% in Australia and New Zealand, respectively.

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