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Asian Markets Exhibit Mixed Trend

Asian Markets Exhibit Mixed Trend CANBERA (dpa-AFX) - Asian stock markets are turning in a mixed performance on Thursday after the U.S. Federal Reserve revealed plans to continue its asset purchase program and U.S. lawmakers made progress toward a $900 billion coronavirus relief deal. Nevertheless, worries about the continued surge in global coronavirus cases and lockdown measures weighed on the markets. The Australian market is extending gains from the previous session following the mostly positive cues overnight from Wall Street. In addition, upbeat Australian employment data for November boosted sentiment. The benchmark S&P/ASX 200 Index is rising 36.30 points or 0.54 percent to 6,715.50, after touching a high of 6726.40. The broader All Ordinaries Index is adding 41.90 points or 0.61 percent to 6,958.60. Australian stocks closed higher on Wednesday.

China s trade war with Australia backfires as country is plagued my blackouts during cold winter

Beijing blacklisted imports of Australian coal as part of the trade war last month  Some 80 ships carrying $1.1b worth of coal are sitting off the Australian coast  Coal prices have skyrocketed in China as domestic supply struggles to keep up Now provincial governments are imposing restrictions on electricity usage There are power outages and limits of heating and AC use during the cold winter 

Australian unemployment rate falls as Victoria recovers after COVID: ABS

The federal government and the Reserve Bank of Australia have both said getting workers back into employment is the main focus for the economic recovery following the first recession for the country in 29 years. At the height of the first wave of coronavirus outbreaks in July more than one million people were out of work for the first time in the nation’s history. The RBA estimates this could have been compounded by a further 700,000 job losses had the federal government not introduced the $101.3 billion wage subsidy scheme JobKeeper. By October, about 650,000 of the jobs lost during the crisis had been recovered across the country, though this included a higher proportion of part-time roles.

ASX hits best level since February 25

ASX hits best level since February 25
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