Weaker iron ore prices hurt miners Rising domestic bond yields...

• Weaker iron ore prices hurt miners
• Rising domestic bond yields pressurise equities
• New Zealand's central bank holds rates at record low

(Updates to close)

Australian shares closed lower on Wednesday, hurt most by losses in miners and tech stocks and a fall in commodity prices following a recent rally.

The S&P/ASX 200 index (xjo) ended 0.9% lower at 6,777.8. A rise in bond yields also pressurised stocks, said Kyle Rodda, an analyst with IG Markets.

Higher bond yields usually have a negative impact on equities as they diminish the attraction from stocks' dividend payouts and make debt servicing harder for companies.

Australian bonds saw a major sell-off recently, while hopes of support from the Reserve Bank of Australia in the form of three-year bonds purchases were dashed on Wednesday.

Miners .AXMM fell 2.3% after two consecutive sessions of gains, as iron ore futures declined 0.4% while awaiting a rebound in downstream demand.

Global miners BHP Group (BHP) and Rio Tinto (RIO) fell 3.1% and 2.7%, respectively.

Tech stocks .AXIJ mirrored their Wall Street peers to drop 2.7%, with artificial intelligence company Appen Ltd (APX) declining 12.1% to be the biggest percentage loser on the benchmark.

Energy stocks .AXEJ were also lower, hurt by falling oil prices, as data showed U.S. crude inventories unexpectedly rose last week.

Oil and gas explorers Woodside Petroleum (WPL) and Oil Search (OSH) lost 1.1% and 1.6%, each.

Gold stocks .AXGD shed 1.6% as bullion prices weakened overnight, but prices regained steam later on dovish remarks by U.S. Federal Reserve Chair Jerome Powell.

Gold explorers De Grey Mining (DEG) and Northern Star (NST) fell 3.2% and 3.6%, respectively.

Meanwhile, supermarket chain operator Woolworths Group ended higher after posting strong half-year results, but warned of slowing sales growth ahead.

New Zealand's benchmark S&P/NZX 50 index (nz50) fell 0.9% as weaker financial and healthcare sectors weighed.

The country's central bank on Wednesday held interest rates at record lows and sounded a cautious note about the economic outlook.