Post by mangomoney on Mar 19, 2019 11:29:56 GMT 7
Australia's Tech Stocks Trump U.S., Asia With 200% Rise
By Jackie Edwards and Matthew Burgess
March 19, 2019, 1:00 AM GMT+7 Updated on March 19, 2019, 6:54 AM GMT+7
WiseTech, Appen, Altium, Afterpay and Xero make up new group
Australia’s WAAAX has rallied more than U.S. and China peers
March 19, 2019, 1:00 AM GMT+7 Updated on March 19, 2019, 6:54 AM GMT+7
WiseTech, Appen, Altium, Afterpay and Xero make up new group
Australia’s WAAAX has rallied more than U.S. and China peers
In the U.S. there’s FAANG and in Asia, it’s BAT. Down Under, a burgeoning tech sector has its own five-letter acronym: WAAAX.
The term encompasses a group of Australia’s better known technology stocks: WiseTech Global Ltd., Appen Ltd., Altium Ltd., Afterpay Touch Group Ltd. and Xero Ltd. And they’ve been good bets so far: WAAAX shares have outperformed their China and U.S. peers as investors sought exposure to the global rally that has sent U.S. tech equities soaring since 2017.
The term encompasses a group of Australia’s better known technology stocks: WiseTech Global Ltd., Appen Ltd., Altium Ltd., Afterpay Touch Group Ltd. and Xero Ltd. And they’ve been good bets so far: WAAAX shares have outperformed their China and U.S. peers as investors sought exposure to the global rally that has sent U.S. tech equities soaring since 2017.
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