Tag: Motley Fool

Is the S&P/ASX 200 Index (ASX: XJO) still stuck in a rut?

Exactly a month ago, I penned an article in which I described how the ASX 200 was stuck in a rut. I noted how, for two months, the ASX 200 had essentially gone nowhere. It has ebbed and flowed around the 6,000 point level, but never left the safety of this band for long. This pattern held true after the ASX 200 initially leapt out of the ditch that the March share market crash put it in, rising from 4,546 points on 23 March to 6,000 by 5 June. But from 5 June to 11 August, we essentially didn’t move away from this level, at least not for long. It seemed to be a classic case of ‘mean reversion’.

So, one month later, how have things progressed?

Well, they haven’t. The ASX 200 has not yet shown it can break away from 6,000 points. We nearly saw it last week, when the ASX 200 touched above 6,100 points. But today, it stood at 5,859.40 points by close of trading. Since ASX 200 shares have lost over 4% since 3 September, I would say we’re actually in danger of breaking out of this rut in the wrong direction. With all of the hoopla of August earnings season behind us now, we are still stuck in the mud.

So what does this strange phenomenon tell us?

The ASX 200: All revved up with no place to go

In my opinion, it tells us that ASX investors are waiting for something to give direction to the markets. Apparently earnings season wasn’t enough. Perhaps investors are waiting until the United States presidential election in early November. Perhaps they are waiting until the impact of the government wind-down in support payments on the economy becomes clearer. 

I don’t know. All I know is that we are seeing this pattern play out.

So, how does one invest in this strange environment?

Well, I think ‘sticking to the plan’ is the best way forward. ASX 200 shares will go up in the future, and they will go down. There will be more booms and more crashes down the road. We just don’t know when either will come. If you stick to investing in companies you like, that are top quality, that aren’t too expensive and have good growth prospects in these uncertain times, I think you’ll be just fine.

And if you’re feeling queasy about where the markets are today, the best thing you can do (in my view) is build a small cash position in case your fears come to pass.

More reading

• ASX 200 drops 0.8%, Nearmap (ASX:NEA) sinks
• The latest ASX stocks upgraded by brokers to “buy” today
• Afterpay (ASX:APT) share price facing new competitive pressure
• What I’ve learned writing for The Motley Fool
• ASX 200 down 0.95%: Rio Tinto (ASX:RIO) CEO exits, Nearmap (ASX:NEA) sinks lower

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) fell by 0.83% today to 5,859 points after another market selloff in the US on Thursday.

Nearmap Ltd (ASX: NEA)

The Nearmap share price was the worst performer in the ASX 200 today. The aerial imaging business returned to trade after its capital raising trading halt.

Nearmap announced today that it has successfully completed a $72.1 million institutional placement. The placement was priced at $2.77 per share, which was at the top end of the placement bookbuild range of $2.69 to $2.77. This was a 4.2% discount to the closing price of $2.89 on 9 September 2020. However, that’s much higher than the closing price today of $2.47.

The company reminded investors that the proceeds from the placement will be used to accelerate growth opportunities in the company’s core industry verticals, invest in rolling out the company’s fourth generation camera system and build out the operational foundations to support future growth aspirations.

Nearmap CEO and managing director Dr Rob Newman said: “The strong support our company received from both existing shareholders and new investors is extremely encouraging and I wish to thank them for their endorsement of our strategy. With an even stronger balance sheet, we are well positioned to execute on our accelerated growth strategy and will continue to focus on the global opportunity to become the world’s leading provider of subscription-based location intelligence.”

The ASX 200 business also confirmed that non-executive director Mr Ross Norgard also sold 4.2 million shares representing 15.1% of his holding in Nearmap.

Retail shareholders will be able to buy shares from 17 September 2020.

Rio Tinto Limited (ASX: RIO)

The board of Rio Tinto has been engaging with various stakeholders after the publication of its review into cultural heritage management.

Significant stakeholders expressed concern about executive accountability for the identified failings.

Rio Tinto announced today that J-S Jacques will step down from his role as an executive director and CEO. A process to identify his successor is underway. J-S will remain in his role until the appointment of his successor or 31 March 2021, whichever is earlier. Rio Tinto said this will ensure business continuity to maintain the strong performance of the group’s global operations during COVID-19.

J-S Jacques isn’t the only one that will be stepping down. The chief executive of iron ore, Chris Salisbury and the group executive of corporate relations, Simone Niven, will be leaving.

The ASX 200 miner is establishing a new social performance assurance function, reporting to Mark Davies, to strengthen oversight of communities and heritage practices and performance within the operations.

Rio Tinto chair Simon Thompson said: “What happened at Juukan was wrong and we are determined to ensure that the destruction of a heritage site of such exceptional archaeological and cultural significance never occurs again at a Rio Tinto operation. We are also determined to regain the trust of the Puutu Kunti Kurrama and Pinikura people and other traditional owners. We have also listened to our stakeholders’ concerns that a lack of individual accountability undermines the group’s ability to rebuild that trust and to move forward to implement the changes identified in the board review.”

The Rio Tinto share price finished down 0.6%.

Pro Medicus Ltd (ASX: PME)

ASX 200 medical technology business Pro Medicus announced that it has signed a 7-year, $25 million deal with NYU Langone Health. It is also going to collaborate to research and develop the next generation of imaging solutions. 

NYU Langone was ranked in the 10 best hospitals by US news and world report 2020 to 2021.

The tier 1 academic institution which includes the respected NYU Grossman School of Medicine.

Visage technology will be deployed throughout NYU’s imaging departments replacing systems from legacy vendors. The deal spans six hospitals and numerous other locations across the network. The rollout is expected to commence in the second quarter of FY21.

The contract for the ASX 200 healthcare share is based on a transaction-based licensing model.

Pro Medicus CEO Dr Sam Hupert said: “NYU Langone is a very significant addition to our rapidly growing North American footprint. More than any other PACS vendor, we now have seven of the top twenty ranked US hospitals standardising on our technology and are looking to grow that further across additional market segments. We believe the network effect of this and other recent wins positions us well to increase our lead in this highly competitive market.”

 The Pro Medicus share price rose by 1% today.

More reading

• The ASX 200 is still stuck in a rut
• The latest ASX stocks upgraded by brokers to “buy” today
• Leading broker downgrades Nearmap (ASX:NEA) shares
• Afterpay (ASX:APT) share price facing new competitive pressure
• Pro Medicus (ASX:PME) share price higher on major contract win and research agreement

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nearmap Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended Nearmap Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The MyFiziq Ltd (ASX: MYQ) share price is today soaring higher on news the company had signed a binding term sheet with WellteQ for first CompleteScan integration. The MyFiziq share price closed 29.79% higher for the day, finishing at 61 cents.

What does MyFiziq do?

MyFiziq has developed and patented a proprietary dimensioning technology that enables its users to accurately check, track, and assess dimension using only a smartphone.

Its goal is to help its partners by empowering their consumers with this capability. This in return gives partners the ability to assess, assist, and communicate outcomes with their consumers when navigating day to day life.

Whether this is a personal journey to better health, understanding the risk associated with a physical condition or tracking changes experienced through training, dieting. It also has uses under medical regimes or simply for users wanting to be correctly sized for a garment when shopping online. The MyFiziq technology delivers this privately in less than a minute.

MyFiziq has developed this capability by leveraging the power of computer vision, machine learning, and patented algorithms. The company simplifies the collection of measurements and removes the human error present in traditional methods.

What’s happened?

MyFiziq announced that it had signed its first binding term sheet to expand the newly developed CompleteScan platform capabilities with Asia Pacific corporate wellness platform WellteQ. The platform will soon be released to the $10 trillion dollar global telehealth, corporate wellness and insurance market.

Under the commercial terms, CompleteScan will be integrated into WellteQ’s personalised digital wellness and analytics platform in readiness for January 2021. The integrated offering will be first offered to existing corporate customers including Bupa Australia, Toll Logistics, Credit Suisse and DBS Bank before a wider reach into prospective clients and markets outside of APAC.

Foolish Takeaway

In light of the COVID-19 pandemic, digital health platforms such as WellteQ are becoming a highly sought-after engagement, triage and monitoring tool for the public healthcare, corporate and insurance sectors. These sectors are looking for new and innovative ways to engage, screen and manage people remotely with more personalised and timely health interventions. MyFiziq has filled this void with its platform that stands to benefit both parties.

The MyFiziq share price is up 29.79% on the news.

More reading

• 3 ways Aussies can buy Tesla (NASDAQ:TSLA) shares
• The ASX 200 is still stuck in a rut
• ASX 200 drops 0.8%, Nearmap (ASX:NEA) sinks
• Why the Change (ASX:CCA) share price rocketed 43% today
• Insiders have been buying Cochlear (ASX:COH) and this ASX share

Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Change Financial Ltd (ASX: CCA) share price is today surging higher after it announced a strategic acquisition.  The Change share price rose an astounding 43% to 16.5 cents on the news. It is currently trading at 16 cents, up a hefty 39.13%.

What is Change Financial?

Change Financial, formerly ChimpChange, is a US-focused fin-tech company developing innovative and scalable payments technology to provide solutions for businesses and financial institutions.

Change Financial is currently building a Mastercard-registered enterprise payments and card processor.

Acquisition news

The Change share price shot higher after the company announced a binding agreement to buy Wirecard NZ & Australia assets for A$7.8 million. The acquisition represents an EV/Revenue multiple of 0.5x based on FY20 revenue of approximately US$11.1 million.

Impressively, the acquisition brings significant scale and growth through the addition of 120 customers and capability in more than 35 countries. Moreover, Wirecard had a blue chip client base including the big 4 Australian banks, major Australian supermarkets, Asian and South American banks and fintechs.

In June, Wirecard was placed into voluntary administration. Following an extensive due diligence and highly competitive sale process, Change Financial was selected as the preferred bidder for the assets. Wirecard provides innovative payment management and platform solutions.

Cash consideration and costs are proposed to be funded via a placement raising $6.4 million and an entitlement offer to existing shareholders raising approximately $4.9 million.

Capital raising

The company has received unconditional binding commitments for a placement to institutions, sophisticated and professional investors. The placement price is 9.5 cents per share. This represents a 17.4% discount to the last Change share price close.

This will be swiftly followed by an entitlement offer to eligible shareholders. Eligible shareholders will be able to receive 2 new shares for every 11 shares currently held at the price of 9.5 cents as above.

Foolish takeaway

In completing the acquisition, Wirecard will provide Change with a huge amount of potential clients across the globe. Furthermore, the company was earnings before interest, taxes, depreciation and amortisation (EBITDA) positive and generated strong revenue before it fell into administration. This deal also represents impressive value for money as Change is only paying 0.5x revenue.

The Change share price is currently trading 43% higher after the news.

More reading

• Insiders have been buying Cochlear (ASX:COH) and this ASX share
• Why retirees should add these solid ASX dividend shares to their portfolios
• The SkyCity (ASX:SKC) share price is up 20% in September. Here’s why…
• Insiders have been selling Goodman (ASX:GMG) and this ASX share this month
• 3 exotic ASX tech ETFs you might want to add to your portfolio today

Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Earlier today I looked at a couple of shares that have experienced a spot of insider selling this month. Now, I’m going to turn my focus to insider buying.

I like to regularly take a look to see which shares have experienced meaningful insider buying.

This is because it is often regarded as a bullish indicator, as few people know a company and its intrinsic value better than its own directors.

A number of shares have reported meaningful insider buying this week. Here are a couple which have caught my eye:

Cochlear Limited (ASX: COH)

A change of director’s interest notice reveals that one of this hearing solutions company’s non-executive directors has been topping up his position. According to the notice, Prof Bruce Robinson, AC picked up 75 shares through an on-market trade on 3 September. Professor Robinson paid an average of $194.68 per share, which equates to a total consideration of $14,601. This lifts the director’s holding to a total of 1,083 shares.

With the Cochlear share price down 24% from its 52-week high, it appears as though this director sees value in them at the current level. One broker that agrees is Morgan Stanley. Last week it put an overweight rating and $229.00 price target on Cochlear shares.

TPG Telecom Ltd (ASX: TPG)

According to a change of director’s interest notice, one of this telco giant’s non-executive directors has made a large purchase of shares this month. The notice reveals that Arlene Tansey picked up 10,000 shares through an on-market trade on 7 September. Ms Tansey paid a total of $76,376.30 for the parcel of shares, which equates to an average of ~$7.64 per share. This purchase doubled the director’s holding to 20,000 shares.

The TPG share price has been on a downward trajectory since its merger with Vodafone Australia. Today it is trading 17.5% lower than the price it was commanding on 30 June following its completion. It appears as though this director believes this has brought its shares down to an attractive level. Morgan Stanley would agree with this as well. Late last month it put an overweight rating and $10.00 price target on TPG’s shares.

More reading

• 2 ASX shares I would buy again and one I regret
• 3 outstanding ASX shares to buy and hold for decades
• 3 ASX shares that are trading at bargain prices
• Leading brokers name 3 ASX shares to sell today
• Brokers name 3 ASX shares to buy right now

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. The Motley Fool Australia has recommended Cochlear Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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With term deposits offering paltry interest rates, I believe the share market remains the best place for retirees to invest their hard-earned money.

Whilst there are a good number of quality options for income investors to choose from, two ASX dividend shares that I believe are among the best on offer are listed below. Here’s why I would buy them:

BWP Trust (ASX: BWP)

The first ASX dividend share that I think retirees ought to consider buying is BWP. It is a real estate investment trust with a focus on commercial properties. These assets tend to be large format retail properties which are predominantly leased to home improvement giant, Bunnings Warehouse. At the end of FY 2020, its weighted average lease expiry (WALE) stood at 4 years, with 98% of its portfolio leased.

Despite the pandemic, BWP recorded like-for-like rental growth of 2.4% in FY 2020. This supported a 1% increase in regular profit and a 1% lift in its distribution to 18.29 cents per share. The good news is that due to the strength of the Bunnings business, particularly during these challenging times, I expect a similarly positive performance in FY 2021 and the years that follow. Based on this and the current BWP share price, I estimate that it offers investors a forward 4.65% distribution yield.

Wesfarmers Ltd (ASX: WES)

Another option for retirees to consider buying right now is Wesfarmers. I think the conglomerate is a great option due to its positive long term growth potential. This is thanks to the aforementioned Bunnings business which has been performing particularly strongly during the pandemic.

This is a big positive for Wesfarmers as this business now accounts for almost two-thirds of its earnings following the Coles Group Ltd (ASX: COL) spin-off. In addition to this, I’m confident the rest of its businesses are well-positioned for growth over the next decade. And given its strong balance sheet and hefty cash balance, I suspect that Wesfarmers may bolster its growth with earnings accretive acquisitions. For now, I estimate that Wesfarmers shares offer a forward fully franked ~3.5% dividend yield.

More reading

• 2 reliable and high quality ASX dividend shares to buy today
• Is the Wesfarmers (ASX:WES) share price a quality buy for ASX dividends?
• What is good about the Wesfarmers (ASX:WES) share price in 2020?
• Smash low interest rates with these high yield ASX dividend shares
• New to investing? Here are 5 ASX dividend shares to buy now

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET and Wesfarmers Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The SKYCITY Entertainment Group Limited (ASX: SKC) share price is on a roll this month, up more than 20% so far in September.

By comparison the S&P/ASX 300 Index (ASX: XKO) is down 3.2% over that same time.

Like most shares, particularly those involved in the entertainment business, SkyCity’s share price was pummeled during the COVID-19 market rout, falling 66% from February 21 through March 23.

Since that low, SkyCity’s share price is up a whopping 122%. Although that hasn’t been enough to recoup all of its viral-induced losses, with the share price still down 25% year-to-date.

What does SkyCity do?

SkyCity owns and operates tourism, leisure and entertainment facilities with a focus on casino gambling. SkyCity shares are listed on the Australian and New Zealand exchanges.

In New Zealand, SkyCity operates casinos in Auckland, Queenstown and Hamilton. Its Australian casino is located in Adelaide. The Adelaide site is undergoing a $330 million expansion, with major works expected to be completed later this year. The company also provides conference facilities and restaurant services, along with hotel accommodations at its Auckland location.

The company has more than 5,000 employees. SkyCity shares began trading on the ASX in 1999. Today the company has a market cap of $2.1 billion.

Why is the Skycity share price smashing the ASX 300 in September?

While the broader market has been selling off, SkyCity share price has been rocketing higher.

Part of the renewed investor interest came following the release of its full year 2020 financial results on September 3. Although SkyCity suffered a 24% fall in normalised revenue, the company forecast that its FY21 normalised earnings before interest, tax, depreciation and amortisation (EBITDA) would be above its FY20 results.

Investors are also likely eyeing a two-fold potential revenue increase from SkyCity. One from the completion of its Adelaide expansion and the completion of its New Zealand International Convention Centre and Horizon Hotel projects. The second from investors with a longer-term horizon who expect SkyCity should see a huge ramp up in its business once the coronavirus is defeated or contained.

Until that happens, the company cautioned it didn’t expect to return to pre-COVID or FY19 EBITDA levels because of “negligible international business and international tourism activity due to ongoing international border closures”.

Still, it’s worth remembering that as recently as 24 January, SkyCity’s share price was 34% higher than it is today.

More reading

• Top brokers name 3 ASX shares to sell today
• ASX 200 Weekly Wrap: Friday crash pulls ASX back below 6,000 points
• These were the best performing ASX 200 shares last week
• ASX 200 down 2.75%: Afterpay & Appen sink lower, SKYCITY pushes higher
• Why Brainchip, De Grey, Mesoblast, & SKYCITY shares are pushing higher

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sky City Entertainment Group Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Insider buying is often regarded as a bullish indicator, as few people should know a company better than its own directors.

The theory is that if they have the confidence to buy shares, it could be a sign that things are going well and they expect them to appreciate in value.

Conversely, when directors sell shares it is often regarded as a bearish indicator as you’d be unlikely to sell shares if you felt they were about to increase in value.

With that in mind, here are two ASX shares which have recently experienced notable insider selling:

Goodman Group (ASX: GMG)

According to a change of director’s interest notice, the Deputy Group Chief Executive Officer and Chief Executive Officer North America of this integrated commercial and industrial property company has been selling shares this month. The notice reveals that Anthony Rozic sold a total of 278,333 Goodman shares through a series of on-market trades between 1 September and 3 September.  

Mr Rozic received a total consideration of approximately $5.1 million, which equates to an average of ~$18.28 per share. Despite this sale, the executive still has a meaningful interest in the company. He’s left with ~1.82 million Goodman shares and ~1.6 million performance rights. The Goodman share price is up over 35% since the start of the year. This is thanks to its strong performance during the pandemic, due partly to its exposure to ecommerce markets.

Nitro Software Ltd (ASX: NTO)

A change of director’s interest notice reveals that this software company’s non-executive director has been selling a large number of shares in September. According to the notice, John Dyson has sold 8,683,462 shares through an off-market trade on 9 September.

These shares were sold for a total of ~$19.1 million, which equates to an average of $2.20 per share. With the Nitro share price up 34% year to date on the sale date, it appears as though the director wanted to lock in some gains. Mr Dyson still has a considerable interest in the growing company of approximately 17.5 million shares.

More reading

• Could these exciting small cap tech shares be the next Afterpay (ASX:APT) and Altium (ASX:ALU)?
• Why I would buy Telstra (ASX:TLS) and this outstanding ASX 50 share
• Why Brainchip (ASX:BRN) shares are topping the ASX today
• 2 fantastic ASX 50 shares I would buy today
• Why a recession shouldn’t matter for the ASX share market

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nitro Software Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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I think exchange-traded funds (ETFs) are one of the best ways to capture some broad exposure to the technology space. Tech shares have made a name for themselves recently as being some of the best growth shares money can buy. But some ASX tech shares are more equal than others.

In September 2020, tech is a space defined by potential overvaluations and even the dreaded ‘bubble’ speculation, both on the ASX and over in the United States. We have some tech shares like Afterpay Ltd (ASX: APT), Tesla Inc (NASDAQ: TSLA) and Sezzle Inc (ASX: SZL) that have given investors triple-digit returns many times over in just the past few months. So rather than trying to pick winners and losers in this crowded space, a better solution for many ASX investors might be to use ETFs for a more balanced and diversified approach. So here are 3 ETFs you can do just that with today.

3 ASX tech ETFs

BetaShares Nasdaq 100 ETF (ASX: NDQ)

This ETF is a US-focused one and holds 100 of the largest companies within the Nasdaq exchange. The Nasdaq is renown for its tech exposure and houses most of the companies we would think of when ‘US tech’ is mentioned. Its top holdings include Apple Inc. (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT) and Amazon.com, Inc. (NASDAQ: AMZN). I think the Nasdaq will continue to outperform both the US S&P 500 and our own S&P/ASX 200 Index (ASX: XJO) over the coming decade or two. As such, I think it’s a perfect ETF to buy for American tech exposure today.

VanEck Vectors MSCI World ex Australia Quality ETF (ASX: QUAL)

Another ETF to consider today is this offering from VanEck. QUAL is a fund with more than 300 holdings from around the world. These are selected on a ‘quality’ criteria basis, which includes screeners on low leverage, high earnings growth rates and high returns on equity. You’ll find many tech companies which fit these criteria in QUAL, such as Apple, Microsoft, Alphabet Inc. (NASDAQ: GOOG)(NASDAQ: GOOGL) and NVIDIA Corporation (NASDAQ: NVDA), but also companies like healthcare giant Jonson & Johnson (NYSE: JNJ) and shoe-maker Nike Inc (NYSE: NKE) as well.

For a more balanced and diversified fund than NDQ, I think QUAL is another top choice for investors today.

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

Finally, we have this Asian-focused fund. ASIA is something of an answer to NDQ from the side of the globe closer to home. It houses all of the top tech shares from Asia, including from China, Hong Kong, Taiwan, India and Korea (the south side). This includes Tencent Holdings, Alibaba Group, JD.com and Samsung Electronics.

Although there have been some geopolitical tensions between China and the US (as well as Australia) in recent times, I don’t think this should exclude us from investing in some of the highest-growth markets in the world. If you’re interested in tech names outside the US titans, I think this ETF is another great choice.

More reading

• Why the Afterpay (ASX:APT) and Sezzle (ASX:SZL) share prices are falling again today
• Could these exciting small cap tech shares be the next Afterpay (ASX:APT) and Altium (ASX:ALU)?
• Afterpay (ASX:APT) share price facing new competitive pressure
• ASX 200 down 0.95%: Rio Tinto (ASX:RIO) CEO exits, Nearmap (ASX:NEA) sinks lower
• Why Tesla stock jumped again on Thursday

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Sebastian Bowen owns shares of Alphabet (A shares), Johnson & Johnson, Nike, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (A shares), Amazon, Apple, Microsoft, Nike, NVIDIA, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of BETANASDAQ ETF UNITS. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Johnson & Johnson and Sezzle Inc and recommends the following options: long January 2021 $85 calls on Microsoft, short January 2021 $115 calls on Microsoft, short January 2022 $1940 calls on Amazon, and long January 2022 $1920 calls on Amazon. The Motley Fool Australia owns shares of and has recommended BetaShares Asia Technology Tigers ETF. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Alphabet (A shares), Amazon, Apple, BETANASDAQ ETF UNITS, Nike, NVIDIA, and Sezzle Inc. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Suncorp Group Ltd (ASX: SUN) is about to fire 550 employees, blaming customer behaviour changes due to COVID-19.

The bank earlier this week announced it would close 19 stores and one business centre across Queensland, NSW and Victoria. But at the time the company stated impacted staff would be provided opportunities for redeployment.

Then the news came on Friday that 550 jobs would be cut, which is 4% of the current headcount of 13,500.

In its annual results last month, Suncorp reported a 33% decline in cash earnings.

The Financial Sector Union (FSU) called the job losses “short-sighted” at a company that reported a statutory net profit of $913 million.

“Suncorp is a large financial services company and should have the capacity to maintain its business operations through the global pandemic,” said FSU Queensland local executive secretary Wendy Streets.

“This is the worst time to be unemployed and we know how difficult it will be for some of these Suncorp workers to find new jobs.”

The Motley Fool has contacted Suncorp for comment.

No one uses branches anymore, apparently

Suncorp executive general manager Chris Fleming said earlier in the week that a 24-hour cycle was now the reality for the industry.

“More and more customers have switched to digital banking in 2020, and we expect they will still want to bank digitally beyond COVID-19 and face-to-face transactions will fall further,” he said.

“Suncorp must make changes to our business so we can keep up with our customers’ demands and remain a strong alternative to the major banks.”

Fleming added digital transactions had risen 10% this year and in-person transactions had decreased nearly 60% since June 2016.

Despite a tough year, Suncorp did announce last month that it would still pay a dividend of 10 cents per share.

Its share price was down 1.32% at 2.45pm AEST Friday, to trade at $9. It was as high as $13.54 in mid-January.

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Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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