Australian shares rose at Thursday's close, even as Wall Street fell, as the US Federal Reserve held up to expectations by keeping interest rates steady and signaling a pause in policy easing.

The S&P/ASX 200 Index rose 0.6% or 46.7 points to close at 8,493.7

Powell avoided commenting on the economic impact of tariffs, immigration, and regulation but noted the risks are substantial and long-lasting, Reuters reported.

The US central bank chief said that the economy is strong but not overheated and his comments kept the Fed policy in limbo amid a stable but uncertain US economy, the report said.

On the domestic front, The Reserve Bank of Australia (RBA) is almost certain to deliver its first rate cut next month following a moderation in underlying inflation, ANZ Research said.

Meanwhile, the export price index rose 3.6% in the December 2024 quarter after a 4.3% drop in the September quarter, data from the Australian Bureau of Statistics showed.

In company news, Zip Co's (ASX:ZIP) revenue rose nearly 21% year on year to AU$269.4 million in the fiscal second quarter. Shares of the company fell 25% at market close.

Mineral Resources (ASX:MIN) shipped 5.2 million wet metric tonnes (wmt) of attributable iron ores in the fiscal second quarter from its Onslow Iron, Pilbara, and Yilgarn hubs, up from 4.5 million wmt in the first quarter.

Lastly, Sigma Healthcare (ASX:SIG) said Chemist Warehouse shareholders voted in favor of the companies' proposed merger to be implemented via a scheme of arrangement. Shares of the company fell 4% at market close.