SYDNEY, Nov 9, (Millat/APP/AFP) – Australian stocks climbed
0.80 percent at the open Wednesday in anticipation of a victory for Hillary Clinton in the US presidential election.
At 10.10am (2310 GMT Tuesday), the S&P/ASX 200 was 42.1 points higher
at 5,299.9 as Americans cast their ballots with polls showing Democrat Clinton holding a modest edge over Republican candidate Donald Trump.
“While the market is looking more confident about a Clinton victory,
the lead remains within the realms of historical polling errors, so it is not quite over yet,” said ANZ in a morning note, warning of volatility.
“Regardless of the result today, the increasingly unpredictable
nature of elections is sending an important message,” it added.
“The global backdrop remains one of rising debt, slow growth, limited
reform, a gulf between asset and wage inflation, and rapid technological change (which offers opportunities but also undermines job security).”
The Australian dollar rallied on expectations of a Clinton win and
was trading at 77.54 US cents, up from 77.04 US cents late Tuesday.