Why does Australia’s Christmas stock market tick up?

Aussie investors will likely be watching the Sydney Stock Exchange’s annual Christmas bonus today as the stock market celebrates its biggest week in two years.

The benchmark Australian Stock Exchange (ASX) will offer a whopping $5,000 bonus for the first 10 investors who sign up in the morning on the first day of trading on December 26.

More than 100,000 people will get the bonus, according to the ASX, which said it will also boost its annual Christmas bonuses by another $1,000.

The ASX said the bonus was part of its annual commitment to support stock market participation.

ASX chairman Paul Boddington said the fund was happy to see the stock markets “be able to come out strong in 2017”.

“This is a huge positive for all Australians,” he said.

“The investment community is really focused on the big picture and this is another opportunity to see that big picture come through for the stockmarket.”

The ASA announced last month that it would boost its Christmas bonus to $6,000 and increase its bonus to more than $10,000 annually from 2017-18.

The ASMA said it was committed to investing more than the $5.2 billion in the market the previous year.

However, it did not specify how much of that would be reinvested in the ASICS.

Topics:stockmarket,business-economics-and-finance,business,finance-and/or-federal-government,stocks,investment,government-and–politics,government—politics,economy,australiaFirst posted December 24, 2017 09:31:51Contact Michael BicknellMore stories from Australia