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AUSTRALIAN STOCK MARKET'S CAPITALISATION DOWN IN 2001/02.
BRISBANE, July 1 Asia Pulse - The Australia stock market had $A45 billion ($US25.18 billion) wiped off its value during 2001/02 as investors endured a rocky ride, mainly because of the shockwaves from the September 11 terrorist attacks.
The Australian market's capitalisation had dived six per cent to $A701 billion ($US392.21 billion) by the end of trading Friday - the last session for the financial year - compared to $A746 billion ($US417.39 billion) at this time a year ago.
But while investors were buying and selling more stocks, the benchmark S&P/ASX 200 finished the year 8.0 per cent weaker at 3216.0 compared to where it started the year at 3490.3.
The all ordinaries index also dropped 7.6 per cent to 3163.2 from 3425.2.
The S&P/ASX 200 index hit a high for the year on March 7 of 3497.6 and reached its low of 2924.6 on September 24.
Heading into 2002/03, investors are increasingly concerned about companies' accounting procedures in light of the collapse of HIH Insurance, and the scandals surrounding US giants Enron and WorldCom.
US multi-billion dollar telco WorldCom Inc last week revealed its earnings had been overstated for the past five quarters by about $US3.8 billion ($A6.67 billion).
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Source: HighBeam Research, AUSTRALIAN STOCK MARKET'S CAPITALISATION DOWN IN 2001/02.