Welcome to The Weekly by Synergy! 5-minute musings on the markets, current trends, and events. From our opinions, observations, analysis, and news commentary, just a few lines to get you started every week. Let’s go!
This week’s commentary is centered around the massive role that the mining & technology sectors have in the Australian market. Traditionally, the ASX has averaged a ~30% participation of mining stocks, and it seems new listings are determined to keep this trend. Of course, it is of no surprise to many, considering that mines and active exploration throughout are prevalent on Australian news and normal life, even if mostly far away from the main cities. However, it is worth noting that technology and health tech are coming in closely behind; taking note of what 2020 brought us, a pandemic and an increased reliance on tech to conduct our daily lives, this comes hardly as a surprise.
Today, there are 18 companies listed as upcoming floats and new listings, less than 1% of the total listed issuers. Mining takes 38% of these newcomers, with tech & health just a touch under. To keep track of these new companies in the future, be sure to check out this valuable resource at ASX’s website.
Do you think a change in this trend is coming?
And that is it for today. We’d love to hear your thoughts. Reach out on our social media channels and find additional resources here. See you next week!
The Weekly by Synergy: 5-minute musings on the markets, current trends, and events. From our opinions, observations, analysis, and news commentary, just a few lines to get you started every week.
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