By Oliver Gray
Investing.com - The S&P/ASX 200 finished Thursday’s session 41.9 points or 0.6% higher at 7,435.3, closing at fresh 9-month highs as investors proved optimistic on the prospects of less aggressive rate hikes from RBA officials following weaker than expected employment data, while yields tumbled to near 5-month lows.
Among stocks, Materials led gains amid strong production results from major miners, with Rio Tinto Ltd (ASX:RIO) up 3.3%, BHP Group Ltd (ASX:BHP) adding 1.2%, Fortescue Metals Group Ltd (ASX:FMG) up 1.7% and Champion Iron Ltd (ASX:CIA) adding 1.6%.
Health Care added 0.9%, with Nanosonics Ltd (ASX:NAN) popped 8% after the company upgraded its FY23 guidance. CSL Ltd (ASX:CSL) added 0.8%, Sonic Healthcare Ltd (ASX:SHL) lifted 0.9% and Resmed Inc (ASX:RMD) gained 2.1%.
Financials also gained 0.7% with Macquarie Group Ltd (ASX:MQG) adding 1.3%, ANZ Group Holdings Ltd (ASX:ANZ) up 0.4%, Commonwealth Bank Of Australia (ASX:CBA) adding 1% and Westpac Banking Corp (ASX:WBC) up 0.6%.
On the data front, employment change figures revealed a surprise decline of 14.6K, compared to an addition of 22.8K expected.
On the bond markets, Australia 10-Year rates were 5-month lows of 3.326% while United States 10-Year yields were at 4-month lows of 3.328%.
In New Zealand, the NZX 50 fell 0.3% to 11,885.6.