☕️ Watershed moment

The PM has touched down in China for a historic visit

Good morning.

The PM has touched down in China for a historic visit to the country - Australia’s biggest trading partner - where he is set to meet with President Xi Jinping.

After a rocky few years the relationship between Canberra and Beijing is clearly on the mend. But it’s unlikely to ever return to what it once was.

It also remains to be seen whether highly important diplomatic catch-up sparks any viral internet moments, like Xi’s encounter with a lavender bear on his visit to Tasmania in 2014.

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Market News: Treasury Wine Estates resumed trading after it completed the institutional component of an $825 million equity raising at $10.80/share.

The fresh capital will be used to fund its acquisition of California based winemaker Daou Vineyards, which the company hopes will help solve its long running woes in the US market, and over and above that, provide it with its next global hit after Penfolds.

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