Shares set for further downturns
Dr Shane Oliver
AMP Capital Investors has warned a further downswing in shares is possible in the coming weeks and there is good reason to be cautious, but the broad trend is likely to remain up.
AMP Capital Investors head of investment strategy, and chief economist, Dr Shane Oliver said the ride for investors is likely to remain volatile.
“Shares are likely to rally into year end and the trend is likely to remain up, even if the level of risk has risen, and the ride will be volatile,” he said.
The latest share pullback, which has seen US shares fall 8.5 per cent, UK shares 7 per cent and Australian shares drop 6 per cent, reflects a range of factors led by sub-prime related woes.
Australian and Asian shares are likely to remain relative outperformers, according to Dr Oliver.
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