Updated January 03, The Australian share market posted a capital gain of 7 per cent in , its best performance in three years. Both major stock indices - the ASX and broader All Ordinaries - posted a 7 per cent rise last year. End of year analysis by broking firm CommSec showed Australia scraped into the top half of markets globally, coming 31st amongst 73 bourses studied.

The average global share rise was 10 per cent, with the MSCI index of major world markets a little below that, meaning domestic investors broadly tracked international gains. The US share market posted a strong annual gain, largely thanks to a large Trump rally after investors rapidly cast aside early fears of the President-elect. The Dow Jones Industrial Average of 30 large blue chip companies rose European markets also generally rallied last year, with the FTSE in London jumping However, shares in Australia's key Asian trading partners did not perform so well, with Japan's stock market up 0.

Including dividend payments, CommSec said the total return to holders of Australian shares was However, the price-to-earnings ratio crept higher in , and is above its long-term average, indicating that the ASX may be a little overvalued relative to company earnings.

The biggest capital gains on the Australian share market were made by resources firms that had struggled badly in Amongst the top companies, Resolute Mining was the star performer with a per cent surge, while the other top five gainers were also resources firms. These companies were assisted by an unexpected leap in most commodity prices over , despite a stronger US dollar in which most of the commodities are priced.

However, many analysts are dubious that the strong price gains of can be maintained in On the other side of the ledger, some previous market darlings such as cancer treatment supplier Sirtex, Estia Health, vitamin firm Blackmores and infant formula seller Bellamy's were among the worst performers, losing more than half their value, generally from an elevated base.

The individual performances translated to the sector averages, with capital goods and materials mining both up more than 39 per cent, while telecoms lost 12 per cent and pharmaceuticals and biotech lost 7. Movements in the Australian dollar neither helped or hindered export-exposed companies, with the currency trading in a relatively moderate cent range over the year and ending almost exactly where it started it, at First posted January 02, If you have inside knowledge of a topic in the news, contact the ABC.

By North America correspondent Conor Duffy.

Housing market said to be dangerously overvalued - Australian Property Investor magazine

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Ten years after "the intervention", Indigenous leaders issue are still calling for a voice in a political process that does not hear the aspirations of Indigenous people, writes Stan Grant. This service may include material from Agence France-Presse AFP , APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced.

Open Sites menu ABC Home News iview TV Radio Kids Shop More. News Home Just In Australia World Trump's America Business Sport Science Arts Analysis Programs More. By business reporter Michael Janda. Both the ASX and All Ordinaries indices ended 7 per cent higher than they started it.

Commodity prices risk slide after rebound. Mining industry slips into the new year on an unexpected upturn. ASX slightly overvalued on long term average price-to-earnings ratio. ASX gains or losses by sector, including sector size.

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