On Tuesday the Reserve Bank of Australia left the cash rate on hold at 1.5% for the 28th month in a row.
I believe there’s a good chance that this will remain the case for at least the entirety of 2019, but also for much of 2020.
In light of this, if I had $10,000 sitting in a low interest savings account I would consider putting it to work in the share market instead.
Here are 3 ASX shares to buy with $10,000:
Appen Ltd (ASX: APX)
Appen is a global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence. Both these markets are expected to grow at a strong rate over the next decade, which I believe could lead to increasing demand for Appen’s services. Demand certainly has been strong this year. So much so, last month it upgraded its guidance for underlying EBITDA for the 12 months ending December 31 to be in the range of $62 million to $65 million. This will be a 120% to 131% increase on FY 2017’s result.
ResMed Inc. (ASX: RMD)
One of my favourite shares in the healthcare sector would have to be this medical device company which has a focus on a growing sleep treatment market. Strong demand for its industry leading products has led to ResMed consistently delivering solid profit growth over the last few years. This has continued to be the case so far in FY 2019, with ResMed recently posting a 23% increase in net income in the first quarter.
Super Retail Group Ltd (ASX: SUL)
Investors looking for shares that offer a mixture of value and income might want to consider Super Retail. While there are concerns that falling house prices could have a negative impact on consumer spending, so far this hasn’t been the case for this retail group. Super Retail recently advised that its Rebel, Super Cheap Auto, and Macpac brands have all delivered solid same store sales growth so far in FY 2019. So with its shares trading at just 10x earnings and offering a trailing fully franked 6.6% dividend, Super Retail could be a good option for that $10,000.