Asian share markets
took a step back on Monday, while the Australian dollar dropped after no clear
winner emerged from a weekend election. Activity across much of the region was
subdued as investors took stock of the potential economic fallout from the
Brexit vote after days of volatile trade, and as US financial and commodity
markets will be closed on Monday for the Independence Day holiday. While
Australian politics usually have a muted impact on markets, the current
situation suggests that possible policy paralysis ahead which could pose a
threat to the country's triple A credit rating.
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