Appetite for overseas markets still overshadows ASX
Investors expect the local stock exchange to surge ahead in the next year, but it won’t be enough to drag them away from burgeoning overseas markets, a survey suggests.
Despite 70 per cent of surveyed investors tipping an Australian Stock Exchange (ASX) surge in the next 12 months, just a third listed Australia as their country of choice for stock options, research by online stock application Skaffold showed.
It ranked marginally ahead of the US, which was the chosen investment destination for 30 per cent, and Europe for 16 per cent of the surveyed 200 investors.
Skaffold CEO Chris Batchelor said although the sentiment towards Australian stock options was changing, preferences for many investors still remained overseas.
“Looking offshore, more than two thirds of respondents (69 per cent) said they intended to maintain current exposures to offshore markets,” he said.
“More than one quarter (26 per cent) said they would increase exposure and only 5 percent said they would decrease their offshore holdings.”
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