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Australia’s $239 Billion Stock Rally Blasts Past Record High

  • Market up 21% this year, set for its best run since 2009
  • Benchmark surpasses previous record high from November 2007
Australian Confidence Plunges Amid Pessimism Over Economic Growth
Photographer: Lisa Maree Williams/Bloomberg
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One of this year’s best-performing stock markets has just hit a fresh record.

Australia’s S&P/ASX 200 Index reached its highest level, having added about $239 billion in value this year as investors cheered a dovish central bank, a surprise federal election victory by the incumbent center-right government and skyrocketing iron ore prices.