Australia’s stock market, the worst performer in the Asia-Pacific region in the past three months, needs signs of a thaw in the U.S.-China trade spat to spur a year-end rally.
That’s the view of Steven Daghlian, a market analyst at Commonwealth Bank of Australia’s securities unit, who says a positive outcome of the meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping at the Group of 20 summit starting later this month could be the catalyst needed for December gains. The country’s benchmark stock gauge hasn’t fallen in the final month of the calendar year since 2011.
The full text of this article is available to MacroBusiness subscribers
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
