Asia-Pacific markets were mixed on Thursday, tracking Wall Street’s move higher after the Federal Reserve delivered its third interest rate cut of the year.
The U.S. central bank reduced the federal funds rate by 25 basis points to a target range of 3.5%-3.75%, while signalling a slower pace of easing in 2026.
By 11:40 am AEDT (12:40 am GMT), Australia’s S&P/ASX 200 gained 0.7%, while Japan’s Nikkei 225 was flat. South Korea’s Kospi 200 also traded 0.7% higher.
In economic data, Australia’s seasonally adjusted unemployment rate held steady at 4.3% in November, according to figures released by the Australian Bureau of Statistics.
Sean Crick, ABS head of labour statistics, said: “The unemployment rate has remained at 4.3% in five of the last six months.
“Both the number of unemployed and employed people fell in November, by 2,000 and by 21,000 respectively.”
Full-time employment declined by 57,000, with male employment dropping 40,000 and female employment falling 16,000.
Part-time roles partially offset the decline, rising by 35,000, including 29,000 additional part-time roles for women and 6,000 for men.
On Wall Street, U.S. benchmarks closed higher on Wednesday. The Dow Jones Industrial Average rose 1.1%, the S&P 500 advanced 0.7%, and the Nasdaq Composite finished 0.3% up.
In commodities, Brent crude added 0.4% to settle at US$62.21 a barrel, while spot gold increased 0.5% to US$4,227.85 an ounce. Silver also continued its record climb, adding 1.8% to US$61.63 per ounce.
China’s markets were subdued on Wednesday, with the Shanghai Composite slipping 0.2% to 3,900.5 and the CSI 300 easing 0.1% to 4,591.8.
Hong Kong’s Hang Seng Index rose 0.4% to 25,540.8, while India’s BSE Sensex edged 0.3% lower to 84,391.3.
European markets ended mixed on Wednesday. The FTSE 100 ticked up 0.1% to 9,655.5, the DAX slipped 0.1% to 24,130.1, and the CAC 40 declined 0.4% to 8,022.7.