Asian markets rose after Wall Street’s dovish data took hold. Australia’s unemployment rate fell to an 8-month low

Asia-Pacific markets were mostly higher on Wednesday, following gains on Wall Street that saw Nasdaq Composite November’s inflation report hit record highs after meeting expectations.

Traders in Asia speculated Employment data from Australia, which showed the country’s unemployment rate fell to an 8-month low of 3.9 percent in November, down from 4.1 percent the previous month. A Reuters poll of economists had expected the rate to rise to 4.2 percent.

of Australia S&P/ASX 200 It closed down 0.28 percent at 8,330.3.

of Japan Nikki 225 Trading rose 1.21% to 39,849.14, while the Topix climbed 1% to 2,773.03.

South Korea’s Kospi index was up 1.62 percent at 2,482.12, while the small-cap Kos Daq was up 1.1 percent at 683.35 as investors shrugged off political turmoil in the country.

South Korean President Yoon Seok-yul said on Thursday that he has No intention to resign. After the declaration of martial law last week, he was removed from office despite the pressure of the people and the opposition parties.

China’s CSI 300 was up 0.9%. of Hong Kong Hang Seng Index It rose 1.2% as investors awaited the city’s industrial production data for the third quarter, which will be released later in the day.

In the US on Wednesday, relatively weak inflation data fueled hopes of an interest rate cut from the Federal Reserve next week.

The tech-heavy Nasdaq ended up 1.77 percent at 20,034.89, posting an all-time high and closing record.

Wide market S&P 500 It closed up 0.82 percent at 6,084.19. gave Dow Jones Industrial Average was out, down 99.27 points, or 0.22 percent, to 44,148.56.

Nvidia increased by more than 3 percent, while Tesla Several large companies rose by about 6 percent, along with broad-based gains.

— CNBC’s Sean Conlon and Alex Herring contributed to this report.