Looking to shake things up a bit? Stock traders spend most of their time on the New York Stock Exchange. This is understandable, considering it's the largest stock exchange in the world. In fact, it lists 2,300 companies and has billions in daily trading volume.
However, the NYSE isn't the only place to make money, either in the short term or the long term. The Australian stock market, or the Australian Securities Exchange (ASX), is much smaller. However, it is still a top global market to consider.
It's a great place for both short-term traders and long-term investors to invest some of their money for diversification. It also offers exposure to a broader global economy.
So what do you need to know about the Australian stock market today before investing your money? Keep reading to learn all about the Australian stock market index.
There are 195 countries in the world. At 25 million people, Australia is the 55th most populous nation. However, the Australian economy is ranked 13th on a global scale. However, the Australian Stock Exchange is the 16th largest stock market in the world.
So even though Australia is quite small in terms of population, it has a valuable economy and many large companies worth investing in.
So what time does the Australian stock market open? The normal ASX hours are from 10:00 AM to 4:00 PM Australian eastern time (GMT+10:00). While a lunch closing is popular among nearby Asian countries, that doesn't happen in Australia.
The ASX also has pre-trading hours from 7:00 AM to 10:00 AM. These feature lower volume and possibly different rules. There are also smaller post-trading hours, otherwise known as overnight trading hours. Which add additional flexibility for online trading, particularly internationals.
During these hours, liquidity is limited, leading to greater volatility, and thus, greater risk. However, these larger price swings can work in favor of traders with experience looking for greater opportunities each day.
The Australian stock market isn't just for traders and investors from Australia. Citizens from many countries can participate if they find the right brokerage to open an account with. Monex Securities is a great option for those outside the Asia-Pacific region to gain access to Australia and other hot markets on this side of the globe.
As one of the world's economic powerhouse, and the Asia-Pacific region's most prosperous economy, there's a lot of opportunity for short and long-term traders to turn a profit and build their wealth.
Australia is a country rich in natural resources and energy production. But it also includes booming sectors in finance, healthcare, technology and innovation, and much more.
As a trader, don't overlook the Australian stock market, thanks to the opportunity for income generation that it provides. Plus, if you ever want to get boots on the ground and experience the country for yourself, you aren't going to mind the year-round warm weather, bustling cities, and beautiful beaches that line the country.
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