Australian shares slipped on Tuesday, with the ASX 200 down 34 points, or 0.4%, to close at 8,658, snapping a two-day advance and pulling back from a two-week peak, as traders secured profits ahead of April CPI data due Wednesday. Headline inflation is expected to ease to 4.4% from March’s 2-1/2-year high of 4.6%, though still above the Reserve Bank’s 2–3% target. Meanwhile, the trimmed mean is seen edging up to 3.4% from 3.3%. Still, a surge in U.S. futures helped cap losses after U.S. forces reportedly carried out “self-defense” strikes in southern Iran. Selling pressure hit logistics, consumer non-durables, consumer services, and energy minerals, partly offset by gains in consumer durables and industrial services. ASX Ltd. tumbled 12%, its steepest fall in over a decade, on tech-driven cost warnings. Two of the big four banks fell between 0.2%–0.5% while other notable losers included Aristocrat Leisure (-3.4%), Insurance Australia Group (-2.1%), and Challenger Ltd. (-4.8%).