News: XMM Australian shares end at 5-week low on falling rate cut bets

	  AXJO down for fifth straight day 

	  BHP down 1.8%, warns writedowns at nickel unit 

	  NZX records fourth session of consecutive losses 

Australian shares closed at five-week lows on Thursday after domestic and U.S. economic data indicated central banks may maintain interest rates for longer, prompting a broad sell-off.

The S&P/ASX 200 benchmark index (xjo) fell for the fifth consecutive session, dropped 0.6% to 7,346.5 points, its lowest close since mid-December.

Data showed a sharp decline in employment last month after two consecutive months of strong growth, adding to the case that interest rates have peaked. However, markets widely expect the easing cycle to begin only towards the end of this year.

"Although the decline in new jobs suggests a cooling trend, the steady unemployment rate underscores the persistent labor market tightness which could ultimately feed into the stickiness of inflation," said Hebe Chen, market analyst at IG Markets.

U.S. retail sales rose more than expected last month, prompting upgrades in economic growth outlook and casting doubts on whether the Federal Reserve would start cutting interest rates in March.

Expectations of a 25 basis points rate cut by the Fed in March fell to 60% from 65% a week ago, according to the CME FedWatch tool.

Miners .AXMM were the biggest contributors to the benchmark's decline, falling 1.2% to their lowest since mid-November, pressured by weak iron ore prices.

BHP Group (BHP) slipped 1.8%, its lowest closing level since mid-November, after it warned of possible writedowns at its nickel unit.

Real estate .AXRE was also among the top losers, declining 2.2%, with Dexus (DXS) and Charter Hall Retail REIT (CQR) each ending 3.1% and 2.6% lower.

Energy stocks .AXEJ dropped 1%, even as oil prices ticked higher.

Ampol (ALD) fell 2.5% on reporting a drop in its fourth-quarter refining volumes at Lytton refinery in Queensland.

The New Zealand benchmark S&P/NZX 50 index (nz50) fell 0.7% to 11,687.18 points.