Australian shares slip on inflation concerns, miners top drags

Australias S&P/ASX 200 index closed 0.5 percent lower at 8,778.70 on inflation concerns, with miners dragging the market down 1.7 percent and gold stocks falling 4.6 percent. Despite the daily decline, the benchmark posted a 3.5 percent quarterly gain, its best since September 2025, led by heavyweight miners and banks. Energy stocks had their worst quarter since March 2020, dropping 16.5 percent, while the Reserve Bank of Australia minutes signalled openness to further rate tightening amid inflation risks from the Middle East conflict.