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1.Market Observations

25 Mar 2017 (AFR) – ASX claws back lost ground after biggest drop in 2017

(25 March 2017, AFR, p26, by Myriam Robin)

‘The Australian sharemarket ended the week on a positive note despite jitters surrounding the passing of US healthcare legislation, billed as the first big test of the Trump administration’s legislative prowess. The benchmark S&P/ASX200 rose 0.8 per cent to 5753.5 on Friday, narrowing the weekly loss to just 0.8 per cent, after the market on Wednesday experienced its biggest slump since November. The broader All Ordinaries Index also fell 0.8 per cent over the five trading sessions.  Global bourses tumbled on Wednesday over fears that the Trump administration might be unable to get its healthcare reform bill through Congress. Staunch resistance within the Republican party, delaying the vote to Friday night, sparked worries Trump might struggle to get the necessary backing for his pro-growth plans such as tax cuts.’

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