Financials drive ASX rebound

Leith van Onselen

Tuesday, 17 March 2020

The ASX has rallied in early trade with the All Ordinaries Index (tracking the 500 biggest companies) rising 1.2%:

The ASX 200 is up 1.4%:

With the gains driven by a 2.4% rebound in financials:

However, the consumer discretionary sector remains in the toilet, down 0.2%:

Based on current levels, the All Ordinaries Index is now trading around 30% below its 20 February peak.

About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.