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One of your options is to buy U.S. echange traded funds (ETFs) or mutual funds that specialize in Australian market. I don't think you will be able to trade Australian stocks from a U.S. based brokerage account, unless they are ADRs listed on U.S. exchanges. You mentioned however that you are not interested in ADRs. I don't think either that you will be able to open Australian brokarege account while not residing in Australia. The biggest problem here lies in the curency difference.

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Q: How can a person in the US purchase stocks that are only listed on the Australian Exchange?
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