News: XGD Financials, energy stocks drag Australian shares lower amid interest rate concerns

	  ASX 200 marks two days of losses  

	  Energy, banks top drags on ASX 200  

	  NZX 50 logs third-straight weekly gain  

Australian shares fell on Friday, dragged down by losses in financial and energy stocks, while investors exercised caution amid increasing bets that the U.S. Federal Reserve is done raising interest rates.

The benchmark index S&P/ASX 200 (xjo) closed around 0.13% lower at 7,049.1 points. The benchmark has added 1% this week.

Investors largely focused on data this week that showed the U.S. consumer price index was unchanged in October and that the core rate was up 0.2%, weaker than anticipated, with market participants revising their forecasts for future Fed action. FEDWATCH

In Sydney, the heavyweight financials index .AXFJ fell 0.1%, their lowest level since Nov. 2. The sub-index marked two straight weeks of losses with shares down over 0.5% this week.

ANZ Group (ANZ) led losses in the sub-index slumping by 0.5%. Westpac Banking (WBC) shrunk 0.2% while National Australia Bank (NAB) was flat.

Tim Waterer, chief market analyst at KCM Trade said the high number of jobs created in addition to a jump in the Wage Price Index (WPI) meant that the Reserve Bank of Australia's (RBA) job was not necessarily done yet with rate hikes.

"This uncertainty over whether the RBA has more work to do on the interest rate front weighed on sentiment today, with financial stocks facing some headwinds in particular," he added.

Energy stocks .AXEJ fell 1.6% to their lowest level since May 4, to log its fourth consecutive week of losses, as oil prices sunk over worries of global oil demand following weak data from the U.S. and Asia.

Woodside Energy (WDS) dropped 2.3% while Santos (STO) fell around 0.1%.

Among other sectors, local mining stocks .AXMM rose 0.4% and gold stocks .AXGD gained 2.6%, tech stocks .AXIJ jumped nearly 0.4%, while healthcare stocks .AXHJ advanced around 0.3%.

Across the Tasman Sea, the New Zealand benchmark S&P/NZX 50 index (nz50) fell around 0.5% to 11,176.97 points. The benchmark clocked three straight weeks of gains, adding over 0.3% in value this week.