Australia: Market hits record highs

The Australian share market advanced for fifth day in a row on Thursday, 28 November 2019, as market mood continued to bolstered by Wall Street's record closing highs overnight and continued speculation the Reserve Bank Australia (RBA) will deliver additional monetary policy stimulus next year and potentially introduce quantitative easing next year. At closing bell, the benchmark S&P/ASX200 index added 13.40 points, or 0.2%, to 6,864.00, while the broader All Ordinaries grew 14.97 points, or 0.22%, to 6,965.60.

Telstra shares soared 4 per cent to A$3.86 following broker upgrades from Credit Suisse and Macquarie.

CURRENCY NEWS: The Australian dollar, sensitive to shifts in broader risk appetite, eased against greenback, following President Trump's signing of a Hong Kong bill, which could create tension on the trade front, and weaker than expected September quarter private sector capex/business investment. The Australian dollar changed hands at $0.6765 after declining from levels above $0.678 yesterday.

 

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