A number of ASX 200 stocks soared higher on Wednesday as the S&P/ASX 200 Index (INDEXASX: XJO) closed just shy of a new all-time high.
Amongst the ASX 200 winners yesterday were Stockland Corporation Ltd (ASX: SGP), Carsales.com Ltd (ASX: CAR) and Sonic Healthcare Ltd (ASX: SHL).
So why are these 3 ASX stocks climbing higher?
1. Low interest rate environment helps Stockland shares
Stockland shares closed at $5.06 per share – a level last reached back in July 2016. The Aussie real estate investment trust (REIT) is having a bumper 2019 and has rocketed 46.67% higher since the start of the year.
The potential for further Reserve Bank of Australia (RBA) rate cuts is helping real estate across the country. Borrowers have access to record-low financing rates and this is pushing property prices up across Australia.
Lower rates also means lower interest payments, which could result in a GDP push for Aussie retail, helping Stockland's commercial real estate holdings.
2. Carsales climbs higher as consumer confidence fades
The Carsales share price has been another top performing ASX 200 stock in 2019.
The car reseller has enjoyed a lot of success in 2019 as consumer confidence fades across the country. Despite the rate cuts relieving some pressure, Australia's household debt levels remain extremely high.
Companies such as Carsales can often perform well in times like this where people choose to buy second-hand and save some extra cash.
Carsales shares are up 52.04%, YTD, and closed yesterday's trade at $16.39 per share – just shy of its 52-week high set late on Wednesday.
3. Sonic Healthcare is the latest healthcare stock to soar
The Sonic Healthcare share price closed at $30.59 per share and extended to a new record high on Wednesday.
Sonic is up more than 1,000% since 1999 and has rocketed 40.32% higher since the start of January.
The medical group is just one of several ASX 200 healthcare stocks to be hitting new record highs this week alongside CSL Limited (ASX: CSL) and Cochlear Limited (ASX: COH).
