Business
Why supply and demand is the enemy of ASX resources shares
ASX resources shares like BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) are uber-popular right now. And very understandably so. Over just the past month, Fortescue has added more than 13% to its market capitalisation, and BHP 6%.
These ASX resources blue chips have also been some of the S&P/ASX 200 Index (ASX: XJO)’s best performers over the past year or so, well outperforming other blue chip shares like Woolworths Group Ltd (ASX: WOW) and the big four banks.
But the performance of Beach Energy Ltd (ASX: BPT) today has brought the viability of investing in ASX resources shares into focus today. Beach shares have shed a nasty 20% today. That’s a fifth of its value gone in just a few hours.
Why the…
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