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Australia's share market surges 2 per cent as investors pounce on 'cheap' stocks

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The Aussie share market jumped more than 2 per cent in the first 15 minutes of trading today. 9News

Overnight, US stocks rose sharply after the US Senate passed the unprecedented A$3.3 trillion emergency aid bill to shore up the world's largest economy amid the coronavirus outbreak.

Digital market boards are seen at the Australian Securities Exchange in Sydney in Sydney, Thursday, March 12, 2020.IG Markets analyst Kyle Rodda says that for all the optimism, some stark realities remain about the current climate for the global economy. "US jobless claims data came-in far worse than expected... and the COVID-19 crisis is still well out of control," he said in a note.

The Australian dollar was buying 60.50 US cents at 10.15am AEDT, up from 59.14 US cents as the market closed yesterday. A journalist reporting from in front of digital market boards at the Australian Stock Exchange in Sydney.

 

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The corona virus death count jumped more than that yesterday

Now down 2.4%.

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Housing market to slump as 'open for inspections' cancelledThe number of houses sold could drop 50 per cent in coming months as spiraling unemployment and auction bans take their toll. Let's all pray housing prices will finally tank, back to their actual real value of up to 60% wipe out. Thank you corona. Didnt see that coming. really, you morons. It was 40-50% inflated before!! The Government must block foreign sales during and after this crises. Australia is not for sale. scomo smh guardian
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