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ASX 200 Index Trading Forecast for October 1

After opening at 5,417.10 the ASX 200 dropped throughout last week before closing at 5,313.40. This week it opened by dropping even further to 5,273.20 before falling to around the 5,265 level.

Indexes across the world fell after the weekend as the standoff between protesters and police in Hong Kong continued into the start of the week. Protesters are demanding free elections and show no sign of abating despite the police’s use of tear gas and they are expected to continue throughout Tuesday and beyond.

As long as the unrest in Hong Kong continues then markets throughout Asia and Australia are likely to continue falling. Investors tend to move towards safe haven assets, such as precious metals, and out of the stock market. However, if the Hong Kong protests are brought to a peaceful end early this week then the index may recover some of its losses.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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