ASX in the doldrums but month-end rebalancing offers some respite

The Australian sharemarket has tipped into negative territory for the year despite Wall Street continuing to reset its record highs as US investors shrug off the Iran war to pile back into artificial intelligence stocks.

But this divergence in performance could be a consolation prize for the S&P/ASX 200 Index. That’s because global investors this week may be forced to rotate out of the US and hot markets such as Japan and South Korea in favour of the underperformers like Australia to maintain benchmark weightings in their portfolios at the month’s end.

Source: https://www.afr.com/markets/equity-markets/asx-in-the-doldrums-but-month-end-rebalancing-offers-some-respite-20260428-p5zrol