Australian Shares fell for the first time this week on Thursday's close, even as Wall Street and other Asian markets gained after China reassured investors of its commitment to boost markets and strengthen share prices.

The S&P/ASX 200 Index fell 0.6% or 51.1 points to close at 8,378.7.

China's move is short-term, a lasting impact will depend on a recovery in the country's economy, Bloomberg reported.

Though it brought some cheer to Chinese investors, markets are still cautious about President Trump's tariff plans that could impact investments, the report said.

On the domestic front, Payroll jobs in Australia rose 0.3% between Aug. 17 and Sept. 14, 2024, following a 0.5% uptick in the prior reference period, according to Thursday data from the Australian Bureau of Statistics.

Fortescue (ASX:FMG) reported that its total ore mined for the fiscal second quarter ended December 2024 came in at 61.9 million tonnes, up 12% from 55 million tonnes a year earlier. Shares of the company fell past 2% at market close

Myer Holdings (ASX:MYR) reported that its shareholders voted in favor of its proposed merger with the Apparel Brands business of Premier Investments (ASX:PMV) at its extraordinary general meeting. Myer's rose 6% at market close.

Lastly, Insignia Financial (ASX:IFL) reported funds under administration at AU$231.37 billion in the quarter ending Dec. 31, 2024, up from AU$ 228.79 billion in the quarter ending Sep.30. Its shares rose past 2% at market close, earlier hitting a 52-week high.