The market cap of the ASX market (not stock) is shrinking for the 1st time in almost two decades as IPOs dry up and some businesses become the target of overseas suitors &/or private bids e.g. Crown, Sydney Airports and hopefully Newcrest Mining (NCM). However far important for the ASX stock is its decision to keep CHESS clearing & settlement operational while it works on its replacement with ASIC breathing down its neck – considering its track record over the last seven years it probably had no choice with the 2032 transition date hopefully realistic.
- We have the ASX on our Hitlist for the Income Portfolio & it looks poised to test ~10% higher over the coming months.
MM is neutral to bullish the ASX over the short term
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