The All Ordinaries Index began the week in positive territory as investors cheered the Chinese Central Bank’s decision to lower interest rates. However, news that the Reserve Bank of Australia left interest rates unchanged caused shareholders to dump stocks Tuesday. Australian equities continued to fall mid-week after the release of disappointing GDP figures. The Australian stock market managed to close modestly higher Thursday as advances from resource shares lent support. Australian equities finished lower Friday with declining iron ore prices causing caution among investors. Australian stocks declined three of five sessions this week to end lower, overall.
That’s the market in review.