Oct 5 (Reuters) – Australian shares rose on Thursday after three sessions of losses, led by the gains in gold and technology stocks, while investors awaited U.S. jobs report data to take cues on further rate hikes.

The S&P/ASX 200 index .AXJO rose 0.3% to 6,909.2 by 2333 GMT. The benchmark fell 0.8% on Wednesday.

Market sentiment eased after U.S. private payrolls increased far less than expected in September increasing likelihood that the Federal Reserve might not keep “rates higher for longer”.

Earlier this week, the Reserve Bank of Australia had kept rates unchanged during its meeting but signalled that further tightening would be required to bring inflation to target in a reasonable time frame.

Investors are now waiting for September U.S. unemployment rate data scheduled for release on Friday to get cues on the Fed’s rate hike trajectory.

In Sydney, gold stocks .AXGD climbed 1.3%, with sector heavyweight Newcrest Mining NCM.AX and Northern Star Resources NST.AX rising more than 0.7% and 1.9%, respectively.

Technology stocks .AXIJ chased NASDAQ higher to gain 1.3%.

Shares of Xero XRO.AX rose over 1.1% while ASX-listed shares of Block Inc SQ2.AX inched 0.1% higher.

Financials .AXFJ rose 0.6%, with the “big four” banks trading in the positive territory.

Bucking the trend, export-reliant miners .AXMM fell 0.6%. Sector behemoths BHP Group BHP.AX, Rio Tinto RIO.AX and Fortescue Metals Group FMG.AX falling between 0.7% and 0.8%

Energy stocks .AXEJ also dropped 1.5% after oil prices took a hit. O/R

New Zealand’s benchmark S&P/NZX 50 index .NZ50 fell 0.1% to 11,225.2, a day after the country’s central bank held rates steady as policymakers were more confident that past hikes were working to bring down inflation as desired.

(Reporting by Nausheen Thusoo in Bengaluru; Editing by Rashmi Aich)

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