Market Commentary - Foreign Markets
Australian markets hit new high As on : 19-Sep-24  16:59

Australian markets hit a new high, with mining and energy stocks leading the surge following the FOMC's big rate cut.

The benchmark S&P/ASX 200 gained 0.61 percent to close at 8,191.90 while the broader All Ordinaries index edged up 0.63 percent to 8,417.

Australia's unemployment rate held steady in August and employment increased strongly, suggesting that the labor market remained tight.

Data from the Australian Bureau of Statistics showed that the jobless rate remained unchanged at 4.2 percent in August, in line with expectations.

The net employment increased by 47,500 on month in August, which was much higher than the expected increase of 26,400. The participation rate held steady at a record high of 67.1 percent.

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