Resilient corporate profits are masking the ASX’s shaky foundations
Earnings season reveals local groups are performing better than expected. Weakness in China and a fall in Commonwealth Bank’s share price could undo the gains.
That’s how one macro expert described the rip-your-face off-market rally that has erased the nasty draw-downs felt by investors in large cap tech stocks.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
