Investors exit ASX to chase growth offshore, says Betashares strategist | The Business | ABC NEWS

By ABC News (Australia)

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The Australian share market has erased all its gains for the year. The ASX 200 index is now off 0.6% for the year to date. September has been a particularly bad month for ASX 200, with the index down 4.5% so far, closing at 8,665 on Friday. Senior investment strategist at Betashares, Cameron Gleeson, says Australia's slowing economic growth and rising interest rates environment has dampened company earnings expectations, and that's encouraged investors to look elsewhere for growth. He said, "our outlook for earnings Australia perhaps isn't promising as it globally." He says the Australian share market is a difficult market to invest in "a lot of our clients are relatively circumspect as for the prospects of the Australian equity market... we're closer to that stagflationary environment, where as in the US that earnings growth is very strong." When asked about the deepening US bond market sell-off, he says the shorter dated bond yields are signalling that central banks globally ar

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