Australian shares logged their biggest one-day gain since Dec. 14 on Thursday, boosted by renewed hopes for U.S. rate cuts following a smaller-than-expected rise in consumer inflation, while traders also assessed domestic jobless data. The S&P/ASX 200 index closed 1.7% higher at 7,881.300, with mining, banks, and real estate stocks leading gains. The benchmark ended 0.4% higher on Wednesday.
Open FlipShares of Oberoi Realty on Thursday jumped 9% to hit a fresh 52-week high of Rs 1,712.30 after the company reported a 65% year-on-year (YoY) jump in its Q4 profit at Rs 788 crore.The total income of the company rose to Rs 1,558.56 crore in the quarter from Rs 995.11 crore in the year-ago period, according to the regulatory filing on Tuesday.
Open FlipU.S. stocks are at fresh records, bitcoin is soaring and investors are spurning insurance against portfolio declines as evidence that the economy is headed for a so-called soft landing whets market participants' appetite for risk. Call it the Goldilocks trade - a bet that the Federal Reserve will be able to tame inflation while keeping growth from declining too rapidly.
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