The Australian sharemarket has advanced,after sharp gains in tech stocks offset losses from miners and utilities.
The Australian sharemarket finished flat on Monday,with technology stocks and takeover target Insignia unable to overcome losses from the mining sector.
Bargain-hunting shoppers have helped the Australian sharemarket rally on the first day of trade after the Christmas break,with the index on track to add almost 10 per cent this year.
The Australian sharemarket closed high on Christmas Eve making the most of the rally from some of the world’s largest technology companies.
The local index was boosted by a raft of soaring stocks as investors remained optimistic for news of a stimulus boost from China.
Aidan Puddy is arguably Australia’s least-known mega-fund manager. He manages over $45 billion has no public profile compared to stock picking superstars.