Australian shares fell on Tuesday, with the S&P/ASX 200 closing down 0.5% at 8,682.8, as big banks dragged the benchmark despite strength in miners and a takeover-fuelled jump in BlueScope Steel. Financials slid 1.8%, with Commonwealth Bank of Australia down 3% and the other major lenders off about 2% to 2.4%. Markets are now focused on Wednesday’s inflation data, with traders pricing roughly a 33% chance of a February rate hike; “If the market starts pricing in rate increases, the ASX is likely to see more differentiated performance across sectors rather than a broad rally,” said Marc Jocum, senior product and investment strategist at Global X ETFs Australia. Indo Premier
