ASX investors are stuck between a rock, CBA at $143, and a hard place
CBA shares above $140 and China’s wobbles have sent investors heading towards the ASX’s third bucket: industrials. That puts their management teams under pressure.
The top end of the ASX falls into three big buckets: banks, miners, industrials.
Banks are expensive – see CBA above $143 on Tuesday. Miners are a bit uncertain – as evidenced by China’s deteriorating economic outlook. So, it is in industrials that most large-cap investors seem to be hanging out.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
