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Australian shares ‘overvalued’, analysts say, as local bourse keeps surging higher – NEWS.com.au
Australian shares ‘overvalued’, analysts say, as local bourse keeps surging higher
The stock exchange index representing the share prices of Australias 500 biggest listed companies is nudging its all-time high as investors flock to the sharemarket chasing profits, but analysts warn many are overvalued.The All Ordinaries Index climbed to 7183 just after 11am AEST on Wednesday before closing at 7177.
That compares to its life-time high of 7289.7 points, CommSec noted.
Australian investors have driven the market higher as they seek returns, with property prices at record highs while…
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