News

The US market (measured by the S&P 500 index) rallied +10.7%, while the Australian market (ASX 200) gained 9.9%, its best month on record. The NZ market (NZX 50) lagged in a relative sense, but was still up +5.8% for the month

Treasury Wine Estates plummeted -11% on Friday after Beijing said it would impose tariffs of 107–212% on Australian wine imports after alleging dumping into the Chinese market.

Global markets were mixed in very quiet trade overnight as the US markets were closed for Thanksgiving holiday.

In other news, President Xi congratulated Biden on his election victory and said China wants to advance a “healthy and stable” relationship and uphold principles of “no conflict” and “no confrontation”. It remains to be seen if the US-China relationship w