Australian shares log fourth weekly loss as global bond rout weighs; RBA in focus

By Keshav SinghChundawat

Sept 25 (Reuters) - Australian shares ended lower on Friday, posting a fourth consecutive weekly decline, as renewed inflation concerns sparked a global bond sell-off and dampened risk appetite, ahead of a central bank meeting next week.

The benchmark S&P/ASX 200 index .AXJO fell 0.4% to 8,665 points. It was down 0.8% for the week.

Brent crude edged 0.8% lower, but remained above $100 a barrel, keeping inflation concerns alive and pushing bond yields higher globally. MKTS/GLOB

In Sydney, stocks are retreating under the dual pressure of higher global bond yields, and renewed growth concerns relating to higher rates and yields, said Tim Waterer, chief market analyst at KCM Trade.

After Thursday's mixed monthly labour data, focus now shifts to the Reserve Bank of Australia's policy meeting next week, with markets widely expecting a rate hike to combat sticky inflation.

Investors will closely watch the central bank's tone, rather than the decision itself, for hints on the monetary path beyond the September meeting.

Miners .AXMM declined 0.8% with BHP BHP.AX, Rio Tinto RIO.AX and Fortescue FMG.AX shedding between 0.5% and 2.3%.

Gold stocks .AXGD dropped 0.5%, tracking softer bullion prices. GOL/

Energy stocks .AXEJ slipped 0.3% as oil prices edged lower on hope for a truce between the US and Iran. O/R

Tech stocks .AXIJ shed 1.7%, posting sixth straight week of declines.

Bucking the trend, banks .AXFJ gained 0.3% with all "Big Four" banks advancing between 0.6% and 1.1%. However, it logged its third straight weekly decline, falling 0.6%.

"Financials have struggled for most of the past seven weeks as the market digests the implications of a longer or more aggressive rate-hiking cycle," KCM Trade's Waterer said.

While higher rates can support net interest margins early on for banks, growing concerns about slower growth and potential pressure on credit quality are now outweighing that benefit, he added.

New Zealand's benchmark S&P/NZX 50 index .NZ50 ended flat at 13,811.11, but notched second straight weekly gain.