Mining and energy stocks have struggled to counterbalance a weaker financial sector, leaving the Australian sharemarket slightly lower ahead of key US economic data set to return after the government shutdown.
The S&P/ASX200 on Wednesday closed down 21.2 points, or 0.25 per cent, to 8,447.9, as the broader All Ordinaries dropped 16.9 points, or 0.19 per cent, to 8,721.4.
Local wage growth figures which landed in line with forecasts capped volatility but put another nail in the coffin of short-term interest rate cut hopes, weighing on the big banks.
Four of 11 sectors finished higher, with financials having the biggest drag on the market's performance, losing 1.2 per cent while mining and energy stocks rose.
The Australian dollar was buying 64.83 US cents, down from 65.11 US cents on Tuesday at 5pm.
