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SYDNEY: Australian shares closed higher on Friday, building on the prior session’s gains after weak jobs data tempered bets for a near-term hike in interest rates.
The benchmark S&P/ASX 200 index rose 0.4 percent to 8,657, led by strong gains in miners and financials. It posted a modest weekly gain of 0.3 percent after slipping below the key 8,500 level earlier in the week.
Data released on Thursday showed a surprise drop in April employment figures, raising expectations for a near-term pause in the Reserve Bank of Australia rate-hike cycle.