Australian markets end at record highs

Australian markets closed at record highs as softer inflation data released on Wednesday boosted hopes for interest rate cuts by the Reserve Bank.

The benchmark S&P/ASX 200 rose 0.55 percent to 8,493.70, led by technology, mining and energy stocks. The broader All Ordinaries index settled 0.52 percent higher at 8,745.90.

Karoon Energy jumped 7.7 percent after unveiling a $120m share buyback plan. Zip Co plummeted 25.4 percent after Q2 earnings missed estimates.

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