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ASX hits record high as economy completes COVID-19 rebound – The Australian Financial Review
The sharemarket rose to a new record on Wednesday, supported by advances from the miners and energy stocks.
The rebound from the COVID-19 shock is now complete, with Q1 GDP in Australia rising to above its pre-pandemic level, said HSBC chief economist Paul Bloxham.
Australias comparative economic success has stemmed from its closed international border, which has seen near-zero community transmission of COVID-19 since the turn of the year (notwithstanding the current outbreak in Melbourne) as well as the substantial amount of fiscal and monetary stimulus that has been delivered.
But the benefits of the…
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