Aussie PM Turnbull Waits on Final Tally Before Claiming Win — Market Talk

0042 GMT [Dow Jones] Australia’s caretaker Prime Minister says he will wait for the outcome of elections to become clear before claiming victory, after a cabinet colleague said his conservatives had already won. Industry Minister Christopher Pyne said earlier Friday that the conservatives now had an unassailable lead and were guaranteed of forming either a majority government or one ruling with the support of independents. “We have had an election, Australians have voted,” Turnbull says. “We respect the votes that have been cast and one way to show that respect is by waiting for the counting to be completed, or completed to the point where the decision is plain. I am very confident.” With counting still continuing, the conservatives now control 73 seats of the 76 seats needed to form government in the 150-seat lower house and are expected to win as many as three of six undecided seats. The government also has backing from a key independent in the event of a hung parliament. (rob.taylor[a]; Twitter: [a]WSJRobTaylor)

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