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Is the Aussie sharemarket no longer a global laggard?

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After a decade or so of weaker performance than many major markets, Australia's share market may finally be throwing off its mantle as a global laggard.

At least, that's the view of some observers, after the recent strong run up in the share of Australia's traditional powerhouses – banks and miners.

The ASX200 has under-performed the S&P 500 over the last decade and over five years.Credit:Angus Mordant

In recent weeks, the S&P/ASX 200 Index has been eclipsing fresh 11-year highs and edging closer to a new record. That's good news for investors but it's also a reminder that our stock market has been softer than some of its global peers over the past decade.

Not including dividends, the S&P/ASX 200 is up about 23 per cent in the past five years, which is about half the gain in Wall Street's S&P 500 Index over the same period.

Over a decade, the difference is even more stark, with our market up about 70 per cent, compared with Wall Street's gain of more than 200 per cent (admittedly, the US market had fallen further in the Global........

© The Age