SYDNEY/WELLINGTON: Australian shares closed lower on Thursday, with mining and energy stocks leading the declines, as the US Federal Reserve signalled that it was considering changes to its dovish policy earlier than expected.
The S&P/ASX 200 index ended 0.37% lower at 7,359.0.
Mining stocks fell 2%, with gold stocks dropping more than 4%, as metal prices weakened overnight, although prices recuperated slightly later.
Global miners BHP Group and Rio Tinto lost 1.4% and 1.2%, respectively.
Energy stocks lost 1.9% as oil prices fell against a stronger greenback.
Financials rose, with the so called “big four” banks gaining between 0.6% and 1.5%.
Broadcaster Seven West Media jumped more than 26% after forecasting a 97% jump in adjusted earnings for fiscal 2021, as its advertising revenue strengthened.
New Zealand’s benchmark S&P/NZX 50 index fell 0.3% to 12,541.2 as the country posted a faster-than-expected first-quarter economic growth data, prompting fears of policy tightening.
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