Is the Australian stock market still a buy?

Last year, Australia's S&P/ASX 200 share index rose nearly 18% – having racked up 30% gains the year before. But is the market still a buy?

Investors who have ignored the Australian stockmarket over the past three years, "should be kicking themselves", says Sundeep Tucker in the FT. Last year, the S&P/ASX 200 share index rose nearly 18% having racked up 30% gains the year before.

Now, the index is poised to breach the "significant psychological milestone" of 5,000 points, says Shane Oliver of AMP Capital Investors in the Australian Daily Telegraph. Nearing this landmark has "triggered some profit taking over the past six weeks", but thanks to "a strong lead from Wall Street and bullish sentiment" in Australia, the resistance point looks set to be broken within days, says Byron Kaye, also in The Daily Telegraph.

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Annunziata Rees-Mogg

Annunziata was a deputy editor at MoneyWeek, covering financial markets, politics, economics and comment pieces. She then went on to the Daily Telegraph as a lead writer where she wrote a column on young women’s financial issues. She was briefly a member of the European Parliament for the East Midlands region in the UK as part of the Conservative Party.  Annunziata continues to write  as a freelance journalist.