AU Weekly Wrap | PMI Data Shows Inflation Easing; Bitcoin ETF Finally Arrives in Australia

It has taken a long time but the first exchange traded fund (ETF) to directly hold Bitcoin started trading on the Australian Securities Exchange on Thursday.

China will include Australia in its visa waiver program, Premier Li Qiang announced after his meeting with Australian Prime Minister Anthony Albanese, a sign of improving bilateral relations between the two countries.

Rising demand from growing Australian pension funds is a key reason for a shortage of ASX equities, say Macquarie analysts in a note.

Also affecting the equities drought are reinvested dividends and buybacks, plus a dearth of IPOs. The analysts see increased offshore listing could help fill the gap. This would, Macquarie adds, benefit capital markets stocks like exchanges, fund managers and investment banks.

Australia's purchasing manager index data for June showed that while economic activity is cooling it remains in expansionary territory, lending weight to the idea that a soft landing looks likely.

The Judo Bank Flash Australia composite PMI output index fell to 50.6 in June, down from 52.1 in May.

The challenges in finding and mining copper deposits globally are putting "additional importance on ensuring we economically extract as much copper as possible from our current operations," Anna Wiley, the head of 's South Australia copper arm, tells an industry conference.