ASX to drop despite optimism about bumper half-year earnings season
Investors expect a bumper half-year reporting season, hoping for a string of earnings upgrades in a wave of optimism caused by improving economic conditions and anticipation that interest rates will be cut.
The Australian sharemarket has largely anticipated that the market wide earnings downgrades cycle that impacted ASX-listed companies the past few years has come to an end, having rallied 3.8 per cent this year as traders look forward to a better year for corporate profits.
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