Feb 17 (Reuters) - Australian shares fell on Friday amid
broad-based losses as sentiment remained dampened after U.S.
economic data confirmed the case for more rate hikes by the
Federal Reserve.
The S&P/ASX 200 index fell 0.3% to 7,385.70 points
by 2346 GMT, after climbing 0.8% on Thursday. Elsewhere in Asia,
Japan's Nikkei was up 0.7% and S&P 500 E-minis futures were down 0.3%.
The number of Americans filing new claims for unemployment
benefits unexpectedly fell last week, while another set of U.S.
data showed highest rise in producer prices in seven months in
January, indicating a stubborn inflation. Back in Australia, the governor of the country's central
bank said more rate hikes would be needed in the months ahead to
ensure inflation returns to the target range. Domestic technology stocks slumped 2.3%, leading the
fall on the benchmark and falling in-line with their overseas
peers. Sector majors Block Inc and Xero Ltd shed 6.8% and 4.3%, respectively.
Financials slipped 0.2%, with all "Big Four" posting
a decline.
Westpac fell 0.2%. The bank said on Friday its
common equity Tier-1 ratio in the first quarter fell
sequentially as it increased provisions for bad debts. Energy stocks dropped 1.2% as oil prices settled
slightly lower on Thursday, with heavyweights Woodside Energy
Group and Santos declining 1.1% and 1.3%,
respectively.
Miners too fell 0.2%, after initially gaining in the
early trades.
Sector giants BHP Group , Rio Tinto and
Fortescue Metals Group , however, climbed between 1% and
1.3%.
In New Zealand, the benchmark S&P/NZX 50 index rose
0.3% to 12,125.15.
(Reporting by Jaskiran Singh in Bengaluru)
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