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ASX 200 snaps 3-session winning run

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Real estate sector slips 1.3%

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Local jobs data due on Thursday

(Updates to close)

By Shivangi Lahiri

March 19 (Reuters) -

Australian shares ended lower on Wednesday, dragged down by

the mining and real estate sectors, as investors awaited the

U.S. Federal Reserve's policy decision and new

economic projections

due later in the day.

The S&P/ASX 200 main index closed 0.4% lower at

7,828.3 points, snapping a three-session gaining streak with

most sectors in the negative territory.

The benchmark index, which rallied 7.5% last year, has wiped

off more than half of those gains so far in 2025.

"The pullback of late is naturally expected given the now

uncertain outlook clouding earnings growth across many

industries, especially those with exposure to the U.S. import

market," said Grady Wulff, market analyst with BellDirect.

At the conclusion of the Fed's two-day policy meeting on

Wednesday, several banks and researchers expect the central bank

to hold rates or at least slow the pace of further cuts.

The Fed holding policy will add pressure to Australia's

rate-sensitive growth sectors like tech, real estate and

discretionary, which do not thrive in a high interest rate

environment, Wulff added.

Real estate stocks slid 1.3% and were the biggest

drag on the benchmark index, with Goodman Group ( GMGSF ) falling

1.6%.

The tech sub-index slipped 1%, led by 0.9% and 2.3%

declines in Xero ( XROLF ) and WiseTech Global ( WTCHF ),

respectively.

Domestic miners ended 0.5% lower, as concerns over

demand prospects and a persistent fall in housing prices in

China led to a softening in iron ore prices.

Mineral Resources closed the day 4.4% lower, as the

miner temporarily paused haulage from its Onslow Iron project

following a road train accident.

The local jobs data, due Thursday, is also on investors'

radar, where any upside surprise could influence the Reserve

Bank of Australia to keep rates steady longer.

New Zealand's benchmark S&P/NZX 50 index closed down

0.3% at 12,045.93.