Share This article Share Australia Stock Exchange (ASX) shares have gained more than 20% since early October and are now trading at an attractive price for investors.
This is partly due to an increase in the market capitalisation of Australian companies, which have risen more than 500%.
It is also because of a surge in demand for digital media stocks.
“The ASX’s stock market capitalization is now around $3.8 trillion, which is a whopping increase of 5% in the last 12 months,” ASX President and CEO John Cappelli said.
“This has seen the stock market surge to over $3,500 a share, up from around $2,500 in mid-October.”
It’s also a sign that the ASX is seeing a new wave of investors and that there is plenty of room for growth.
“We continue to be the envy of the financial world.”
Mr Cappellis shares are up 50% since late October, with a return of nearly 100% in three months.
The ASMX has recently seen a surge of interest from investors in digital content stocks, which are growing at a rapid pace.
The ASX has seen a spike in interest in the digital media sector, particularly video streaming platforms like YouTube, Netflix and Amazon, which now account for almost half of all Australian online content revenues.
The company has also seen a huge growth in the number of companies that are trading on the ASMEX, with over 80% of all companies listed on the platform, according to ASX data.
Mr Cappaelli said that ASX investors were more likely to invest in digital stocks because they were the most efficient way to diversify their portfolios.
“A lot of people look at the ASG as an alternative investment and the ASMP has proven itself to be an effective way to make money,” Mr Cappello said.
Topics:investments-and-markets,investment-and/or-management,stockmarket,financial-services,markets,asian-national-university-of-technology,australiaFirst posted March 03, 2020 06:48:49Contact Sue BroughtonMore stories from Victoria