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My question relates to the points system awarded to the stock exchanges. I read somewhere the All Ords was established by the ASX in January 1980 and was given a value of 500 points and since then the index has risen to over 2600 points.

Question - how are these points actually determined? Who determines them? Are these points related to the number of shares on the market or do they relate to the value of the shares? At this stage I want to know how long I should hold my breath if I hear the All Ords has taken a plunge of ........ points. Thanks in anticipation.
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