Australian shares followed Wall Street higher after the US Fed chair talked down inflation fears. -AAP Image
The Australian share market has resumed its uptrend after the US Federal Reserve left US rate cut expectations unchanged and shrugged-off tariff concerns.
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As markets closed, the S&P/ASX200 had gained 87.7 points, or 1.12 per cent, to 7916, as the broader All Ordinaries rose 90.9 points, or 1.13 per cent, to 8146.2.
IT and real estate stocks surged more than 2 per cent each as financial stocks, which account for almost a third of Australia's share market, rose 1.8 per cent.
The local bourse's best daily performance in six weeks came after the US Federal Reserve confirmed it expected to make two more US interest rate cuts in 2025, despite rising concerns about global growth and tariff-induced inflation.
The Australian dollar is buying 63.41 US cents, down from 63.58 US cents on Wednesday afternoon.Â
The Aussie slipped as much as 0.5 per cent after data showed employment fell in February, despite unemployment holding steady at 4.1 per cent.
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