Australian shares fell for the first day in three on Wednesday as falling commodity prices dragged down resources shares. The S&P/ASX 200 index ended down 28.17 points, or 0.5 percent at 5,744.2, giving back half of its gains on Tuesday. Mining giant BHP Billiton fell 1.6 percent, while Fortescue Metals Group closed down 1.2 percent. Oil majors Woodside Petroleum and Origin Energy slid 1.2 percent and 0.7 percent, respectively.
Oil prices fell as inventories in the United States suddenly rose, while iron ore prices slipped on concerns regarding a restocking-driven rally. The benchmark index was also pressured by selling in financial stocks, led by the 'Big Four' banks which fell between 0.4 to 0.9 percent. New Zealand's benchmark S&P/NZX 50 index rose 18.87 points, or 0.2 percent, gaining for the third consecutive session despite weaker-than-expected employment and wage data.
Healthcare stocks boosted the index, with Ryman Healthcare and Fisher and Paykel Healthcare Corporation, closing 2.1 percent and 0.9 percent higher, among the top gainers.