What’s next for the ASX after the share market hit another record?
The ASX 200 rose by 3.2% this week and reached fresh record highs, but Clive Maguchu, senior strategist with State Street Investment Management says there are better opportunities for investors in overseas markets. He says Australia lacks the large technology sector that has benefited from the global AI boom, although the local materials sector could be a secondary beneficiary as investment in AI drives demand for data centres and power infrastructure. “We do see some positive outcomes for the Australian market … but overall, we do see better opportunities available in global markets for investment.” Mr Maguchu also discusses Australia’s reporting season, the prospect of another RBA interest rate rise this year, the impact of higher oil prices on inflation and the US AI trade. He also weighs in on the recent US-Japan intervention to support the yen and where investors can look for income in the current environment.
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Read more here: https://www.abc.net.au/news/2026-08-07/asx-markets-business-live-news-august-7-2026/106774136
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