Dec 12 (Reuters) - Australian shares gained on Thursday in tandem with Wall Street, after in-line U.S. inflation data fuelled hopes of an impending Federal Reserve rate cut, while investors awaited local jobs data due later in the day.

The S&P/ASX 200 index .AXJO rose 0.3% to 8,378.9 points by 1134 GMT. The benchmark fell 0.5% on Wednesday.

A Labor Department report on Wednesday showed U.S. consumer prices in November increased by the most in seven months, though broadly in line with market expectations, boosting expectations of a Fed rate cut. MKTS/GLOB

Markets are now pricing in a more than 96% chance the Fed will cut rates by 25 basis points next week, according to CME's FedWatch Tool.

Locally, investors sat tight ahead of Australia's November employment data, a key metric that will provide greater clarity on the Reserve Bank of Australia's $(RBA)$ rate cut stance. The RBA is slated to meet next in February.

On the Sydney bourse, rate-sensitive financials rose 0.4%, with one of the country's top lenders Westpac Banking Corp WBC.AX adding 0.4%.

Heavyweight miners .AXMM added 0.3%, tracking the broader benchmark, led by Fortescue's FMG.AX 0.5% rise.

Technology stocks .AXIJ advanced around 0.6%, following its Wall Street peers, as a rally in tech stocks lifted the Nasdaq above the 20,000-point milestone for the first time. .N

Software developer Xero XRO.AX jumped 0.5%.

Gold stocks .AXGD followed the broader trend to gain 1.3% as bullion prices advanced. GOL/

Energy stocks .AXEJ ascended as well, adding 0.4% on rising oil prices. O/R

Sector majors Woodside Energy WDS.AX and Santos STO.AX climbed 0.2% and 0.3%, respectively.

Among individual stocks, graphite miner Syrah Resources SYR.AX plunged as much as 32.1% to its lowest since March 2020 after its unit declared a force majeure event at its Balama Graphite Operation in Mozambique amid post-election civil unrest.

New Zealand's benchmark S&P/NZX 50 index .NZ50 traded flat at 12,763.07 points.

(Reporting by Adwitiya Srivastava in Bengaluru; Editing by Sumana Nandy)

((Adwitiya.Srivastava@thomsonreuters.com))

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