Market gains are displayed on the Australian Stock Exchange Image by Mick Tsikas/AAP PHOTOS

financial and business service

Australian stocks appear set to rise again

2020-01-16 07:12:30

Australian share prices appeared headed for another record day after US stocks rose with the signing of a long awaited trade deal with China.

The SPI200 futures contract was up 23 points, or 0.33 per cent, at 6,953 at 0700 on Thursday following a new high on the Australian Stock Exchange of 6,996.8 points on Wednesday.

The rise comes after the first phase of a new trade agreement between the US-China was signed overnight in the US.

The Australian dollar was buying 69.04 US cents, up from 68.96 US cents at Wednesday’s close.