Australian shares ended lower on Wednesday, with the S&P/ASX 200 index closing at 8,687.00, marking a nearly four-week low. This decline of 0.3% reflects a total drop of nearly 3% over the past seven sessions, the longest losing streak since mid-June 2022. Core inflation data released indicated a softer-than-expected measure, which eased expectations for a May rate hike from 86% to 71%. Despite this, underlying inflationary trends remain a concern, particularly with rising energy costs impacting the consumer price index. Kai Chen, director at MPC Markets, noted that while the market may be primed for a rebound, the real effects of inflation from ongoing geopolitical tensions will not be fully visible until the second quarter. In sector performances, miners closed 0.4% lower, and financials fell by 0.6%, while energy stocks gained 1.3%, buoyed by Woodside Energy's positive revenue report.