Australian shares slip as miners, tech stocks drag; RBA minutes in focus
Oct 13 (Reuters) - Australian shares inched lower on Tuesday, dragged down by losses in miners and technology stocks, as investors awaited minutes from the Reserve Bank of Australia's September meeting for clues on the interest-rate outlook.
The S&P/ASX 200 index .AXJO fell 0.2% to 8,767.80 points by 2333 GMT, after closing 0.8% higher in the previous session.
Reserve Bank of Australia Governor Michele Bullock said late last month that some inflation risks had "materialised" and the central bank was prepared to raise rates further if needed.
Markets are pricing in a 30% chance of a rate hike, with a hold still seen as the more likely outcome. The RBA has raised rates four times this year to a 15-year high of 4.6%.0#AUDIRPR
Higher oil prices after fresh attacks in Saudi Arabia have clouded the inflation outlook, overshadowing optimism over US President Donald Trump's pledge to support Russian diesel exports and a Russia-Ukraine ceasefire covering energy infrastructure.
In Australia, energy stocks .AXEJ advanced nearly 2% to hit their highest in nearly a month, with Woodside Energy WDS.AX and Santos STO.AX up 1.8% and 2.3%, respectively.
Analysts at Citi said they favour Australian energy stocks ahead of the September-quarter results, citing firmer commodity prices and what they described as "compelling value" across the sector.
Banks .AXFJ rose 0.4%, with National Australia Bank NAB.AX, Westpac WBC.AX and Commonwealth Bank of Australia CBA.AX up between 0.2% and 0.5%.
Technology stocks .AXIJ tumbled 2.6%, tracking the Nasdaq's fall overnight. WiseTech Global WTC.AX and Xero XRO.AX declined 3.6% and 2.1%, respectively. .N
Miners .AXMM fell 1.6%, with BHP Group BHP.AX and Rio Tinto RIO.AX down 1.4% and 1.9%, respectively. Gold miners .AXGD slipped 1.2%. GOL/
Top iron ore producer Rio Tinto is scheduled to report its quarterly production numbers on Wednesday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 lost 0.2% to 13,806.89 points.