Vote count begins for Australia election after polling ends

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Canberra, May 21 | Shortly after polling ended, vote count started on Saturday for the tightly-contested Australian general election, the first one to be held since 2019.

Due to time difference, however, as votes are being counted across most of the country, people are still casting their ballots in some other areas including Western Australia, reports Xinhua news agency.

In his final pitch to voters on Saturday, Prime Minister Scott Morrison who cast his ballot in his electorate of Cook, said “today Australians are making a big choice about their future”.

“I want the aspirations of Australians to be realized and the way that occurs is by backing Australians in, not telling them how to live and what to do, and getting government in their face.”

His main rival, Labor leader Anthony Albanese, who voted in his electorate of Grayndler, said: “My big concern with this government is, what is there to be proud of?

“I want to change politics. I want to change the way it operates. I want parliament to function properly. I want our democracy to function properly. That’s why I’m in this, not to change where I live, I’m in it to change the country and that’s what I intend to do.

Results are expected to be declared within hours.

However, the Australian Electoral Commission has warned that it could take longer to declare results in close contests due to the record high number of postal votes.

If a result is called on Saturday night, the leader of the losing party will traditionally call their opponent to concede before speaking publicly at their respective election night events.

Voting started at 8 a.m. on Saturday morning across 7,000 polling stations.

In order to form a majority government, either the Coalition or the Labor must win at least 76 out of 151 seats in the lower house of Parliament — the House of Representatives.

According to Australia’s opinion poll Newspoll published on Friday night, Labor leads the ruling Liberal-National Coalition 53-47 on a two-party preferred basis.

Morrison and Albanese were tied in their personal battle, with 42 per cent of respondents picking each as their preferred Prime Minister.

The poll found that 36 per cent of voters intend to vote for the Labor as their first preference and 35 percent for the Coalition.

If neither the Labor nor the Coalition wins enough seats to form a clear majority, the election result will be declared a “hung parliament”.

In that case, both Morrison and Albanese will enter negotiations with minor parties and independent MPs seeking their support to form a minority government as the Labor did in 2010.

Some of the key issues for voters include economy, unemployment, climate change, trust in leaders, healthcare and education.

Morrison, who became Prime Minister in 2018, is the first Australian leader to serve a full term in office since John Howard, who won four elections before losing to Labor’s Kevin Rudd in 2007, according to a BBC report.

He has led Australia through a period dominated by natural disasters and the Covid-19 pandemic, which was initially hailed as a success but was later criticised for inadequate planning.

Meanwhile, Albanese, one of Australia’s longest-serving politicians who was briefly Deputy Prime Minister under Kevin Rudd in 2013, is campaigning for change and has promised voters a “safe change”.

Source: IANS

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Weekly Fundamental Market Outlook

Weekly Fundamental Market Outlook

Indian share market posted its first weekly gain in Jun by rising 2.7%.

This week, the Indian Stock Market rebounded strongly and ended with first weekly gain of 2.7% in June as a drop in commodity prices offered some relief from broadening inflationary pressures. Copper prices, which are often seen as a bellwether for economic output due to their wide range of industrial and construction uses, are heading for their worst week in a year, while oil prices have dropped over concerns of slumping demand.

While the US recessionary fears are still at the forefront, but the slide in commodity prices has lifted the mood of stock market.Cheaper oil is usually beneficial for oil-importing countries such as India.

Domestically, on sectorial basis, Auto and FMCG are the top gainers, while Metal index is the top losers. On stock basis, Hero MotoCorp, Eicher Motors, Hindustan Unilever, Maruti Suzuki and M&M were the top gainers and Tata steel, UPL, Reliance Industries, hindalco Inds and Coal India were the top losers.

In the next week, investors will keep a close eye on crude oil price movement, commodity prices, US economic activity and the geopolitical development.

 

Post Disclaimer by BhaskarLive.in

The information contained in this post is source form the news agency or PR agency. We do not take any responsibility of accuracy of information. We have not made any modification or changes in original source content. This information only for general information purposes only. The information is provided by BhaskarLive.in and while we Endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.

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