Australian shares edged higher on the morning of May 23 after election results showed that the centre-left Labor party was getting closer to achieving the 76 seats needed to form a majority government.
As of noon on May 23, the benchmark S&P/ASX 200 stood at 7,165.4, representing a gain of 19.8 points or 0.28 percent. Additionally, the All Ordinaries index rose 25.8 points, or 0.35 percent, to 7,416.8.
