<div id="readability-page-1"><div><p>AUSTRALIA’S equity benchmark closed below the psychologically key 8,500 support level for the first time since March-end on Wednesday, as worries over inflation stemming from the Iran war kept investors on edge.</p><p>The benchmark S&amp;P/ASX 200 index ended 1.3 per cent lower at 8,496.60 points, its lowest close since March-end, and erased Tuesday’s 1.2 per cent gain. The gauge joined a global selloff as investors ramped up bets that the Federal Reserve may need to increase interest rates this year, pushing up bond yields.</p><p>Investors’ focus will now be on Thursday’s jobs data for April to draw clues about the Reserve Bank of Australia’s policy trajectory.</p><p>“A tight jobs market is a source of inflationary pressure, so any large house beats in the data probably won’t be to the RBA’s liking given the existing inflation challenges facing the Australian economy,” said Tim Waterer, chief market analyst at KCM Trade.</p><p>Financials lost 1.1 per cent, with the “Big Four” banks slipping between 0.2 per cent and 2.4 per cent.</p><p>The “three rapid-fire rate hikes” this year suggest the sector is bracing for tighter credit conditions, offsetting any optimism around a temporary peak in official interest rates, Waterer added.</p><div><div><h3>Navigate Asia in<br/>a new global order</h3><p>Get the insights delivered to your inbox.</p></div></div><p>Miners fell 2.2 per cent, ending lower for a fifth consecutive session, on weakness in underlying commodity prices.</p><p>BHP Group and Rio Tinto declined 2.3 per cent and 1.5 per cent, respectively.</p><p>Gold stocks slumped 4.6 per cent to a near eight-week low, with Northern Star Resources and Evolution Mining shedding 2.6 per cent and 4.9 per cent, respectively.</p><div><div><div><p>SEE ALSO</p><div><div><div><div><p><img height="600" src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/9f3afd31990cb7e51ab763977930f04c639e9633d949634d08afa201cb4b91d2/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="900" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/9f3afd31990cb7e51ab763977930f04c639e9633d949634d08afa201cb4b91d2/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p></div><p></p><h3><span>European shares dip as Middle East caution lingers</span></h3><p></p></div></div><div><div><div><p><img height="1335" src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/22d1a2a5bc2b119190dd68140cae1f745e514ac7dc93c659f81bf46cbb915a01/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="2000" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/22d1a2a5bc2b119190dd68140cae1f745e514ac7dc93c659f81bf46cbb915a01/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p></div><p></p><h3><span>Japan's Nikkei ends near three-week low as AI-stock selloff weighs</span></h3><p></p></div></div><div><div><div><p><img height="3667" src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/c1a37d9ce56946bf0e2084a15c5573be70d8f684e962f8cdebd50e1ab3fd3752/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="5500" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/c1a37d9ce56946bf0e2084a15c5573be70d8f684e962f8cdebd50e1ab3fd3752/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p></div><p></p><h3><span>Wall Street ends lower as inflation worries push up yields</span></h3><p></p></div></div></div></div></div></div><p>Energy stocks ended flat after rising as much as 1 per cent earlier in the session, even as oil prices eased. Among individual stocks, James Hardie dropped as much as 5.1 per cent to a seven-week low after its annual earnings forecast missed market expectations.</p><p>New Zealand’s benchmark S&amp;P/NZX 50 index ended 1.6 per cent lower at 12,761.03. REUTERS</p><div><p>Decoding Asia newsletter: your guide to navigating Asia in a new global order. <span>Sign up here to get Decoding Asia newsletter.</span> Delivered to your inbox. Free.</p></div></div></div>

RING

<p>Australia's S&P/ASX 200 index closed at 8,496.60 points, down 1.3%, marking its lowest close since March. Inflation concerns linked to the Iran war and expectations of Federal Reserve interest rate hikes contributed to the decline. Financials fell 1.1%, with major banks slipping, while miners dropped 2.2%. Gold stocks hit an eight-week low, and James Hardie shares fell 5.1% after disappointing earnings forecasts. Investors are now focused on upcoming jobs data for insights into the Reserve Bank of Australia's policy direction.</p>

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James Hardie Ind NV

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 BHP Group Ltd

BHP Group Plc

Rio Tinto Limited

Rio Tinto plc

Rio Tinto

Northern Star Resources Ltd

Evolution Mining Limited

BHP Group Limited

Rio Tinto Group

Australian shares end below key 8,500 level as price pressures keep sentiment muted