ASX ready to test 8500 as Bitcoin is on the verge of breaking US$100,000

Australia’s share market gains are unlikely to stop this week as the ASX 200 index is poised to test the 8,500 mark amid investor optimism about the approaching Trump administration and a rally in energy shares fueled by the intensifying conflict between Ukraine and Russia.

Futures prices point to S&The P/ASX 200 index will rise 0.6 per cent or 52 points in Monday’s opening trade from Friday’s record closing high of 8393.8. Commonwealth Bank of Australia, the index’s cornerstone, continued its steady rise to close at a record $159.03 on Friday.

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