ASX Weekly Overview (21st - 25th October, 2013)

This week ASX 200 touched the five-year high levels and market experts are saying that Australia's benchmark index is set for further gains as positive earnings are expected in next few weeks. On Tuesday, stocks on the ASX 200 hit the five-year high level for the third consecutive session, it traded around 5370-level during mid-morning session.

Australian stocks are up by 15.5 per cent year to date, not far behind the S&P 500's 20 per cent year to date gain on Wall Street. Actually, positive economic data from Australia's major trading partner, China coupled with the end of political uncertainty in U.S. has helped boost sentiment. Also the election of a new Australian government in September ended the political uncertainty and boosted the confidence in economy.

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