Australian Stock Exchange is the First to Use Blockchain

Australian kangaroo

by Fred Fuld III

The popular cryptocurrency bitcoin operates on the blockchain platform where it serves as the public ledger for all transactions on its network. The blockchain technology has become increasingly popular for business purposes.

Now the Australian Stock Exchange plans to become the world’s first blockchain/distributed ledger technology enabled stock exchange. Many blockchain companies are already listed on the exchange.

Maybe it’s time to invest in Australia. Over the last twelve months, the iShares MSCI Australia ETF (EWA) is practically unchanged. For those who believe that we are due for an upward move in Australian stocks, this ETF, which pays a 4.31% yield, is a diversified way to participate.

If you prefer to pick individual stocks, here are some worth checking out.

BHP Billiton Ltd (BHPLF) is a worldwide mining company which produces iron ore, copper, oil, gas, and coal. The stock trades at 13 times forward earnings and pays a generous dividend payout of 5.2%. 

In the biotech field, CSL Ltd (CMXHF) is a developer of biotherapies derived from immunoglobulins from blood plasma. The forward price to earnings ratio is 37 and it pays a small yield of 0.98%.

Australia and New Zealand Banking Group Ltd ADR (ANZBY) is Australia’s third largest bank. It trades at 12 times forward earnings and pays a healthy 5.61% yield.

Wesfarmers Ltd (WFAFF) is an Australian conglomerate which is involved in the operation of supermarkets, discount department stores, and hardware and home improvement stores. The forward P/E is 19 and the dividend yield is 4.19%. 

Of course, there are numerous other Australian stocks to choose from, all of which trade over the counter in the United States. Hopefully you can find a great stock from down under which will go up above in your portfolio.

Leave a Reply

Your email address will not be published. Required fields are marked *