Federal Reserve officials said on Wednesday more interest rate rises were on the cards as the U.S. central bank presses forward with its efforts to cool inflation, although none were ready to suggest January's hot U.S. jobs report could push them back to a more aggressive monetary policy stance. Energy stocks declined 1.5% and were among the top losers on the benchmark Australian stock index after oil prices fell. Sector heavyweights Woodside and Santos slipped 0.2% and 0.4%, respectively.
Gold miners slumped 1.8% after bullion prices fell overnight on fears of more interest rate hikes and ahead of next week's U.S. inflation data. Sector major Newcrest Mining and Northern Star Resources fell between 0.7% and 1%. Tech stocks tracked Wall Street lower and were last down 1.8%. ASX-listed shares of Block Inc plunged more than 5%, while Xero slipped 0.8%. Financials fell 0.5%, with all the "big four" banks trading in negative territory.
Meanwhile, shares of REA Group slumped 3.2% after
the online property classifieds operator warned about losses and
reported a lower profit.
New Zealand's benchmark S&P/NZX 50 index rose 0.4%
to 12,163.1.
(Reporting by Nausheen Thusoo in Bengaluru; Editing by
Subhranshu Sahu)
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