<SEC-DOCUMENT>0001752724-23-143781.txt : 20230626
<SEC-HEADER>0001752724-23-143781.hdr.sgml : 20230626
<ACCEPTANCE-DATETIME>20230626151652
ACCESSION NUMBER:		0001752724-23-143781
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230430
FILED AS OF DATE:		20230626
DATE AS OF CHANGE:		20230626
PERIOD START:           	20231031

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ABRDN AUSTRALIA EQUITY FUND, INC.
		CENTRAL INDEX KEY:			0000779336
		IRS NUMBER:				133304681
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04438
		FILM NUMBER:		231041992

	BUSINESS ADDRESS:	
		STREET 1:		1900 MARKET STREET
		STREET 2:		SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		215-405-5700

	MAIL ADDRESS:	
		STREET 1:		1900 MARKET STREET
		STREET 2:		SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ABERDEEN AUSTRALIA EQUITY FUND INC
		DATE OF NAME CHANGE:	20010531

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST AUSTRALIA FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
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          <ccc>XXXXXXXX</ccc>
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      <regName>ABRDN AUSTRALIA EQUITY FUND, INC.</regName>
      <regFileNumber>811-04438</regFileNumber>
      <regCik>0000779336</regCik>
      <regLei>5493003SC25JJLM4UH12</regLei>
      <regStreet1>1900 Market Street</regStreet1>
      <regStreet2>Suite 200</regStreet2>
      <regCity>PHILADELPHIA</regCity>
      <regStateConditional regCountry="US" regState="US-PA"/>
      <regZipOrPostalCode>19103</regZipOrPostalCode>
      <regPhone>215-405-5700</regPhone>
      <seriesName>ABRDN AUSTRALIA EQUITY FUND, INC.</seriesName>
      <seriesLei>5493003SC25JJLM4UH12</seriesLei>
      <repPdEnd>2023-10-31</repPdEnd>
      <repPdDate>2023-04-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>137323250.69</totAssets>
      <totLiabs>10831818.34</totLiabs>
      <netAssets>126491432.35</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.00000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>7081500.99000000</amtPayAftOneYrBanksBorr>
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      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
      <cshNotRptdInCorD>3678620.54000000</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn rtn1="-3.62000000" rtn2="-5.59000000" rtn3="0.00000000"/>
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        <othMon1 netRealizedGain="-48844.60000000" netUnrealizedAppr="-12576180.00000000"/>
        <othMon2 netRealizedGain="-1599306.23000000" netUnrealizedAppr="426412.98000000"/>
        <othMon3 netRealizedGain="144926.36000000" netUnrealizedAppr="1365798.77000000"/>
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      <mon2Flow redemption="0.00000000" reinvestment="1241027.25000000" sales="0.00000000"/>
      <mon3Flow redemption="0.00000000" reinvestment="0.00000000" sales="0.00000000"/>


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        <name>IDP Education Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Elders Ltd</name>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Aristocrat Leisure Ltd</name>
        <lei>529900TE2HO3OZKYKC27</lei>
        <title>Aristocrat Leisure Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000ALL7"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ASX Ltd</name>
        <lei>549300VSBVYUCBIQKT71</lei>
        <title>ASX Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000ASX7"/>
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        <balance>54800.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.51125900"/>
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        <pctVal>1.971613289269</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cochlear Ltd</name>
        <lei>5493001OLLWY8KV5UC08</lei>
        <title>Cochlear Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000COH5"/>
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        <balance>25210.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.51125900"/>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Macquarie Group Ltd</name>
        <lei>ACMHD8HWFMFUIQQ8Y590</lei>
        <title>Macquarie Group Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000MQG1"/>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Insurance Australia Group Ltd</name>
        <lei>549300PFEWKNHRG25N08</lei>
        <title>Insurance Australia Group Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000IAG3"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Wesfarmers Ltd</name>
        <lei>5493003L32ZX9557ST85</lei>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Commonwealth Bank of Australia</name>
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        <name>Mercury NZ Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>James Hardie Industries PLC</name>
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        <invCountry>IE</invCountry>

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        <name>Woolworths Group Ltd</name>
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        <name>Metcash Ltd</name>
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        <name>ResMed Inc</name>
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        <name>Goodman Group</name>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Medibank Pvt Ltd</name>
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        <title>Medibank Pvt Ltd</title>
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        <balance>972600.00000000</balance>
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        <valUSD>2301714.26000000</valUSD>
        <pctVal>1.819660207207</pctVal>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Woodside Energy Group Ltd</name>
        <lei>2549005ZC5RXAOO7FH41</lei>
        <title>Woodside Energy Group Ltd</title>
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          <isin value="AU0000224040"/>
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        <balance>293760.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51125900"/>
        <valUSD>6665509.31000000</valUSD>
        <pctVal>5.269534217587</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Telstra Group Ltd</name>
        <lei>894500WRW54CVN62K416</lei>
        <title>Telstra Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000TLS2"/>
        </identifiers>
        <balance>1833200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51125900"/>
        <valUSD>5318505.79000000</valUSD>
        <pctVal>4.204637176756</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Endeavour Group Ltd/Australia</name>
        <lei>254900JAN9FOLMWAD533</lei>
        <title>Endeavour Group Ltd/Australia</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU0000154833"/>
        </identifiers>
        <balance>511100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51125900"/>
        <valUSD>2303629.05000000</valUSD>
        <pctVal>1.821173977717</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Charter Hall Group</name>
        <lei>N/A</lei>
        <title>Charter Hall Group</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000CHC0"/>
        </identifiers>
        <balance>221300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51125900"/>
        <valUSD>1646438.33000000</valUSD>
        <pctVal>1.301620433425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rio Tinto PLC</name>
        <lei>213800YOEO5OQ72G2R82</lei>
        <title>Rio Tinto PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0007188757"/>
        </identifiers>
        <balance>77980.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.79570300"/>
        <valUSD>4957372.78000000</valUSD>
        <pctVal>3.919137199967</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mirvac Group</name>
        <lei>N/A</lei>
        <title>Mirvac Group</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000MGR9"/>
        </identifiers>
        <balance>1413775.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51125900"/>
        <valUSD>2269710.68000000</valUSD>
        <pctVal>1.794359220883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CSL Ltd</name>
        <lei>529900ECSECK5ZDQTE14</lei>
        <title>CSL Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000CSL8"/>
        </identifiers>
        <balance>56600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51125900"/>
        <valUSD>11299433.72000000</valUSD>
        <pctVal>8.932963687797</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>National Australia Bank Ltd</name>
        <lei>F8SB4JFBSYQFRQEH3Z21</lei>
        <title>National Australia Bank Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000NAB4"/>
        </identifiers>
        <balance>376600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51125900"/>
        <valUSD>7249983.17000000</valUSD>
        <pctVal>5.731600184540</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Spark New Zealand Ltd</name>
        <lei>529900HUN51H3Y7QBB66</lei>
        <title>Spark New Zealand Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NZTELE0001S4"/>
        </identifiers>
        <balance>620400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51125900"/>
        <valUSD>1999608.41000000</valUSD>
        <pctVal>1.580825177524</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BHP Group Ltd</name>
        <lei>WZE1WSENV6JSZFK0JC28</lei>
        <title>BHP Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000BHP4"/>
        </identifiers>
        <balance>464600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51125900"/>
        <valUSD>13788154.21000000</valUSD>
        <pctVal>10.90046491990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANZ Group Holdings Ltd</name>
        <lei>9845005D9C6BAA10BK72</lei>
        <title>ANZ Group Holdings Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000ANZ3"/>
        </identifiers>
        <balance>289813.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51125900"/>
        <valUSD>4706050.49000000</valUSD>
        <pctVal>3.720449996153</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pro Medicus Ltd</name>
        <lei>N/A</lei>
        <title>Pro Medicus Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000PME8"/>
        </identifiers>
        <balance>51700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51125900"/>
        <valUSD>2122123.63000000</valUSD>
        <pctVal>1.677681713752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pilbara Minerals Ltd</name>
        <lei>5299000VV1CZVF5K9C16</lei>
        <title>Pilbara Minerals Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000PLS0"/>
        </identifiers>
        <balance>875500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51125900"/>
        <valUSD>2491857.16000000</valUSD>
        <pctVal>1.969980981087</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Auckland International Airport Ltd</name>
        <lei>549300HFZIZDJWB7AK60</lei>
        <title>Auckland International Airport Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NZAIAE0002S6"/>
        </identifiers>
        <balance>494840.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51125900"/>
        <valUSD>2697305.45000000</valUSD>
        <pctVal>2.132401697007</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Beach Energy Ltd</name>
        <lei>8Q9PJD25OKTQT5FHUF40</lei>
        <title>Beach Energy Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000BPT9"/>
        </identifiers>
        <balance>2089200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.51125900"/>
        <valUSD>2056375.74000000</valUSD>
        <pctVal>1.625703576752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street Global Advisors</name>
        <lei>549300BZ5TGIFZUZDZ37</lei>
        <title>State Street Institutional US Government Money Market Fund</title>
        <cusip>857492706</cusip>
        <identifiers>
          <isin value="US8574927062"/>
        </identifiers>
        <balance>674278.43000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>674278.43000000</valUSD>
        <pctVal>0.533062530380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2023-05-23</ncom:dateSigned>
      <ncom:nameOfApplicant>ABRDN AUSTRALIA EQUITY FUND, INC.</ncom:nameOfApplicant>
      <ncom:signature>Sharon Ferrari</ncom:signature>
      <ncom:signerName>Sharon Ferrari</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
