Published on 24 Mar 2024 on Insider Monkey via Yahoo Finance
11 Best ASX Stocks To Buy Now
In this piece, we will take a look at the 11 best ASX stocks to buy now. If you want to skip our introduction to the Australian stock market, then you can take a look at the 5 Best ASX Stocks To Buy Now.
With a market capitalization of $1.5 trillion, the Australian stock exchange, also called the ASX, is one of the biggest stock exchanges in the world. It is run and managed by the Sydney, Australia based financial services firm ASX Limited (ASX:ASX.AX), and like other stock exchanges, the ASX's composition along with the most valuable companies listed in Australia is somewhat a reflection of the Australian economy.
For instance, the most valuable publicly traded company in Australia is the global mining giant BHP Group Limited (NYSE:BHP). Its latest market capitalization sits at $141 billion, and the firm's top spot in valuation terms is unsurprising given the crucial role that mining plays in the Australian economy. However, when we move further down the ladder of the most valuable Australian stocks, and particularly those that trade on the ASX, the list becomes a bit more diversified and ends up showcasing the advanced nature of Australia's business sector.