The value of ASX-listed stocks, as measured by the All Ordinaries Index, fell 2.9% in June 2010 consistent with falls in a number of major global markets including: the US (S&P 500 Index) down 5.4%, the UK down 5.2%, and Japan down 4.0%. In contrast, some Asian markets saw rising values during the month with Singapore up 3.0% and Hong Kong up 1.8%.
Over the course of FY10, the All Ordinaries rose 9.5% following a fall of 26.0% in the previous financial year. Market volatility was also lower in FY10 (0.8% average daily movements), almost half the level of FY09.
These improved market conditions helped underpin stronger secondary equity market trading and an increase in initial public offering (IPO) activity during FY10, following the difficulties associated with the global financial crisis in the previous year. Secondary capital raising activity remained robust in FY10, although well down on the record levels seen during FY09.
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