The S&P/ASX 200 Index (ASX: XJO) hit its low a month ago on 23 March 2020. The ASX 200 is up 15% since then after the initial coronavirus market fear.
The last two months have been very topsy turvy for the ASX 200. Since 21 February 2020 the ASX 200 is still down by 27%.
What shares drove the ASX 200 recovery?
The biggest shares have the biggest impact on the returns of the index. So let's look at some of the largest companies in the ASX 200 to see how they've performed since 23 March 2020:
The CSL Limited (ASX: CSL) share price is up 8%.
The Commonwealth Bank of Australia (ASX: CBA) share price is up 7.8%.
The BHP Group Ltd (ASX: BHP) share price is up 9.8%.
You just have to look at some of the other ASX 200 shares to see the really big recoveries in the ASX 200 since the low:
The Macquarie Group Ltd (ASX: MQG) share price is up 34%.
The Afterpay Ltd (ASX: APT) share price is up 203%.
The Magellan Financial Group Ltd (ASX: MFG) share price is up 49.4%.
The SKYCITY Entertainment Group Limited (ASX: SKC) share price is up 67.5%.
The JB Hi-Fi Limited (ASX: JBH) share price is up 35%.
The Appen Ltd (ASX: APX) share price is up 30.8%.
What's going to happen next?
The ASX 200 is very unpredictable. Not only is a healthcare crisis much harder to evaluate, but it's also affected by how well people avoid spreading it and what restrictions the government implements.
I think we're quite likely to see the share market go lower again over the next month or two as the reality of the economic pain settles in. But history also tells us that the share market is likely to start recovering before the actual economy.
This unknown future is why I keep investing. No-one knows when the share market will reach the bottom (if it hasn't already). I'm just going to keep regularly investing when I have the funds available. I want to take advantage of these lower share prices for the long-term.
