Australian investors suffering from lack of technology exposure says Tom Piotrowski

Australian investors are not able to participate in the “upswing” being experienced by Northern Hemisphere stocks due to a lack of technology exposure, says CommSec’s Tom Piotrowski.

Earnings numbers from Nvidia exceeded the market’s expectations by a considerable measure, up 16.4 per cent.

US markets also pushed on to new record highs.

“The benchmark was set very high,” Mr Piotrowski said.

“It was eclipsed by Nvidia there – forward-looking estimation of how the next quarter is going to go was about 17 per cent better than what the market had anticipated.

“Sadly, for Australian investors, we don’t have that technology exposure in the local share market, so we’re not participating in that upswing that we’ve seen for Northern Hemisphere stock.”

Presented by CommSec.