Meanwhile, the resources index has fallen more than 33 percentage points during that same period.
And according to Peter Strachan, author of StockAnalysis.com.au, hopes of reinvigorating investor interest in Australia’s energy and resources stocks are fading fast. In fact, he says simply “they will not.”
Why the fall?
In searching for a reason behind the market’s recent record-breaking falls – on 24 August the ASX200 closed down 4.1 per cent, the biggest decline since July 2013 – Strachan says alarming media reports of the commodities sector’s decline have played a part.
“Weekly feedback sessions have emphasised that the bottom for the resource market will be seen when daily papers are headlining the collapse or near collapse of mining companies and the closure of mines, resulting in mass job losses,” he said.