ASX turnover soars on year

PUBLISHED : Thursday, 01 January, 1998, 12:00am
UPDATED : Thursday, 01 January, 1998, 12:00am

Turnover on the Australian Stock Exchange jumped 24.4 per cent to a record A$231.2 billion (about HK$1.16 trillion) in calendar 1997, while October's Asia-inspired share slide helped the month to a slew of new trading records. Exchange figures showed listed domestic companies had a record market capitalisation of $456 billion at the close of trade yesterday, up 16.1 per cent on the year earlier level. A five-day turnover record of $7.1 billion was set on October 27 to 31 as the benchmark All Ordinaries Index plunged almost 400 points.