Australian shares closed the week higher, tracking Wall Street markets, as Apple's revenue forecast for the current quarter cheered investors after concerns were raised earlier that tech companies were overvalued.

The S&P/ASX 200 Index rose 0.5% or 38.6 points to close at 8,532.3.

Despite this week's tech stock selloff, Asian equities are poised for a monthly gain as US tariff concerns on China ease, Bloomberg reported.

Investors are also keeping an eye out for the Fed's favored inflation gauge, the personal consumption expenditures index due later Friday, which is expected to show that inflation is still elevated, the report said.

On the domestic front, Australia's total credit rose 0.6% in December 2024, matching the pace of growth in the prior month, data from the Reserve Bank of Australia showed.

Export prices in Australia surged in the December quarter of 2024 as economic uncertainty hiked gold prices, while import prices slightly rose in the same period, according to the Australian Bureau of Statistics.

In company news, Lendlease Group (ASX:LLC) reached a binding agreement to sell its infrastructure platform, Capella Capital, to Japan's Sojitz for AU$235 million. Shares of the company rose 2% at market close.

Lynas Rare Earths (ASX:LYC) received notice that mining magnate and investor Georgina Hoper Rinehart, along with Hancock Prospecting and its units (HPPL Group) increased their voting power in the company to 8.21% from 7.14%. LYC's shares rose 3% at market close.

Origin Energy's (ASX:ORG) Australia Pacific LNG revenue for the December 2024 quarter was AU$2.71 billion, up 14% from a year earlier on the back of higher volumes and prices. Shares of the company fell 7% at market close.