General
Australian shares fall, but still at a 10-month high on US stimulus bets
Australian shares have slipped in early trade, but are still trading optimistically around their pre-COVID highs.
Markets put aside concerns about more contagious strains of COVID-19 and political instability in the United States.
By 10:40am AEDT, the benchmark ASX 200 had fallen (-0.2pc) to 6,746, around its highest value since late-February.
The broader All Ordinaries index was also down by a similar margin to 7,011 points, also near its highest level in 10 months.
Investors are betting US president-elect Joe Biden will push for more stimulus (hundreds of billions of dollars) into the US economy, and prop up global share prices even further — given Democrats now control the House, Senate and presidency.
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