The Australian stock market is expected to remain near record highs next week following a strong corporate profit season and robust demand for resources, dealers said.
The benchmark SP/ASX 200 finished the week up 72.7 points or 2.04 percent at 3,631.6, while the broader All Ordinaries was up 68 points at 3,636.7, its eighth consecutive record high.
While analysts predict long-term gains, ABN Amro Morgans senior equities adviser Geoff Voller said there could be short-term profit taking.
"I think the general feeling is that maybe the market, even though it's not really super high, it's nevertheless due for a bit of a pullback," he said.
ANZ economist Melanie Hay said a better-than-expected profit season and exceptional demand for resources, particularly from China, had lifted the bourse to new highs.
"The gearing's low and, financially, these companies are really healthy," she said. "Australian business has not had it better for quite some time."
Global miner Rio Tinto closed the week up 97 cents at 37.17 dollars (26.02 US), while National Australia Bank rose 32 cents to 26.80 dollars.
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