Aussie shares lift as Fed rate call calms bond market

Long-dated yields eased from multi-decade highs after the US Federal Reserve delivered its first interest rate hike in three years, showing it was serious about taming inflation and tempering fears about bond markets - the effective plumbing for the global financial system.

A rebound in the financials sector did some heavy lifting as seven of 11 local sectors traded lower, while energy stocks and non-energy miners slumped as oil, iron ore and gold prices eased since Wednesday.

The Australian dollar is buying 71.08 US cents, down from 71.31 US cents on Wednesday at 5pm.