ASX shines with 12 day winning streak
The S&P ASX 200 has just completed an historic 12 straight day winning streak which saw the index gain 513 points (9.66%) making it, in local currency terms, the best world performer out of 93 indexes since January 20th 2015. This winning streak is the longest in the 15 year history of the index.
The S&P ASX 200 closed on Friday 6th February up 9.2 points (0.16%) at 5,820.2 points in what had been a quiet day.
It had spent the day trading around the opening level which indicated that some traders may be considering their positions and thinking about taking some of the profits achieved over the last two weeks.
The RBA downgraded inflation and growth forecasts, however, it was not to the extent that some analysts had been expecting.
Monday 9th February saw the S&P ASX 200 fall for the first time in over 2 weeks as investors indeed, sold shares to cash in on profits.
Adding to the uncertainty was the leadership challenge taking place in Canberra which eventually saw Tony Abbott retain his role as Prime Minister and leader of party.