The local share market has finished slightly lower as its losing streak extended into a fifth straight session, coming close to wiping out its gains for the year.
The benchmark S&P/ASX200 index on Wednesday finished down 6.9 points, or 0.09 per cent, at 7,605.6, while the broader All Ordinaries dropped 1.3 points, or 0.02 per cent, at 7,861.0.
For the year the ASX200 is up just 0.2 per cent, after having dropped 3.8 per cent from its all-time high hit just 15 days ago, as markets reassess the pace of rate hikes given stickier-than-expected inflation and strong labour market and retail sales figures.Â
The Australian dollar was buying 64.21 US cents, from 64.20 US cents at Tuesday's ASX close.