ASX finishes higher, despite tech selloff

The S&P/ASX 200 Index (ASX: XJO) finished last week slightly higher, despite a serious re-valuation across multiple sectors of the market over the week. Once again, government bond yields were the talk of the town. Rises in both American and Australian long-term bond yields sparked some serious navel-gazing from investors. This resulted in tech shares (and those that the more cynically minded might describe as ‘speculative’) being sold off heavily. At the same time, the market discovered a renewed affinity for some of the ASX blue chip shares that have been somewhat out of favour in recent months.

To illustrate this paradigm, the Afterpay…