Australian shares fell 0.3 percent on Wednesday as trepidation ahead of key US inflation data and losses in Commonwealth Bank of Australia, which traded ex-dividend, eclipsed gains in healthcare and industrial stocks. The S&P/ASX 200 index fell 0.3 percent or 14.7 points to 5,841.2, following a 0.6 percent rise on Tuesday.
Investors were cautious ahead of US inflation data due later in the global day that could either upset Wall Street's fragile recovery or clear the way for additional gains. Global equity markets largely remained volatile after a brutal selloff recently, which was triggered by anxiety over expectations of higher inflation and interest rates. A mixed bag of earnings also kept Australian equities subdued.
CBA led the decline with a 3 percent drop as it traded ex-dividend. Others in the 'Big Four' traded marginally lower, while National Australia Bank rose 0.4 percent. A government-backed inquiry into the country's finance sector, rocked by scandals including interest rate rigging and alleged money laundering, has put enders under pressure. The inquiry on Monday said it will start its year-long investigation by scrutinising banks' mortgage selling tactics.
New Zealand's benchmark S&P/NZX 50 index fell 0.8 percent or 63.42 points to settle at 8,058.8 - its weakest close since November 16. The index fell for a sixth session in seven.
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