The S&P/ASX 200 index climbed 0.9% to 9,068.4. It rose to a record of 9,109.70 earlier in the day, crossing the 9,100 mark for the first time.
Labour market data showed the unemployment rate in September jumped to its highest in nearly four years, raising bets of a November rate cut to about 72% from 40% before the data.
However, the Reserve Bank of Australia will be scrutinising the quarterly inflation report due later this month before taking a call on its key cash rate.
Financials rallied more than 1% to a record close, with financial conglomerate Macquarie Group rising 5.1% to its highest close since late August after a $40 billion AI data centre deal with an investor group comprising BlackRock , Microsoft and Nvidia .
ANZ Group, the country’s no.4 lender by market value, rose to its highest close in more than a decade after soaring to an all-time high earlier in the day.Lower interest rates would directly contribute to a significant improvement in mortgage demand and lending activity, which explains the enthusiasm around banks, said Jessica Amir, market strategist at moomoo.Real estate stocks, sensitive to interest rates that affect both consumer demand and developers’ access to financing, jumped 2.8% to log their best session since April.
Sector heavyweights Goodman Group and Mirvac rose 5% and 3.5%, respectively.
Gold miners advanced 2.2% to notch a record close as bullion extended gains on safe-haven flows.
Healthcare, energy, and consumer staples stocks gained up to 1% each.
as a Reliable and Trusted News SourceIn New Zealand, the S&P/NZX 50 rose 0.6% to 13,389.1.