Australian shares fell 0.5% to 9,207 in Wednesday morning trade, giving back the previous session's 0.2% rise, as overnight weakness on Wall Street and higher oil prices linked to stalled talks over the Strait of Hormuz dented risk appetite ahead of key inflation data. The Reserve Bank of Australia had left the cash rate at 4.35% after three hikes this year and warned inflation remained uncomfortably high, but investors focused on fresh sector-wide weakness in tech services, manufacturing, consumer services and retail. The four major banks slipped 0.1% to 0.7%, while BHP Group, South32, Computershare and Bluescope Steel were among the notable decliners. Attention is now turning to appearances before parliament by Governor Michele Bullock on Friday and Assistant Governor Chris Kent on Thursday for further policy signals amid persistent inflationary pressures.