The S&P/ASX 200 edged down 0.1% to finish at 8,928 on Thursday, trimming losses from the earlier session, as declines in rate-sensitive sectors offset gains in gold and heavyweight miners. Sentiment was weighed down by recent data showing core inflation surprised on the upside last quarter, lifting market pricing for an RBA rate hike to around 70% at next month’s meeting. The financial sector fell 0.3%, while real estate stocks slipped 0.2% amid concerns that higher borrowing costs could dampen property demand. Additionally, rare earth miners underperformed after reports the Trump administration may scale back support for US critical minerals projects, dragging Lynas (-3.7%) and Iluka (-14.1%) sharply lower. Iluka also flagged a sizable non-cash impairment charge for its mineral sands business. However, the broader mining sub-index climbed 1%, capping losses in the sector. Gold and energy stocks also advanced 1.3% and 0.9%, respectively, amid high commodity prices.
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