📉 Australian Shares Drop to Over 3-Month Low on Oil Price Surge & Inflation Concerns

• Market Overview: The S&P/ASX 200 index fell 1.2% to 8,658.10 (hitting its lowest level since June 12), driven by rising global crude oil prices, which surged nearly 4% overnight due to renewed US-Iran tensions. • Sector Performance: • Resources: Lost 2.0% amid declining copper prices; BHP fell 2.3% and Rio Tinto slipped 1.6%. • Financials: Dropped 1.5% to a two-week low, with "Big Four" banks down between 1.8% and 2.1%. • Real Estate & Consumer Discretionary: Fell 1.4% and 1.0%, respectively. • Energy: Bucked the trend, rising 1.1% on higher crude prices, with Woodside Energy (+1.2%) and Santos (+1.4%) leading gains. • Macro Economic Impact: Rising fuel costs are heightening inflation fears in Australia, where the Reserve Bank has already raised interest rates by 75 bps this year. Higher bond yields and potential further rate hikes continue to weigh on equity valuations and corporate financing costs. • Regional Markets: New Zealand's S&P/NZX 50 benchmark index declined 0.3% to 13,779.54, marking its second consecutive session loss. _Note: The provided news content pertains entirely to Australian and New Zealand markets and contains no direct data on Sri Lanka's economy, local sectors, or domestic trade._