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Australian shares hit 5-week high as rate-hike bets ease
Australian shares hit a 5-week high on Friday, led by miners as softer-than-expected labour market data curbed expectations of a near-term interest rate hike and fuelled broad-based buying. The S&P/ASX 200 index was up 1% at 8,809.80 points, as of 0025 GMT, after rising as much as 1.2% earlier in session, its highest since September 10. The benchmark was on course for its best week since mid-August, having gained 1% so far. Data released on Thursday showed employment fell by the most in more than a year, prompting markets to revisit their bets on a rate hike. Markets reduced the odds of a ...
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