* Benchmark hits over five-week low

* Miners emerge as top drag, down over 5%

* All sub-indexes shed between 0.8% and 5.6%

April 26 (Reuters) - Australian shares ended lower on Tuesday, dragged by miners, as concerns over tepid demand due to COVID-19 lockdowns in top metals consumer China coupled with a potential aggressive rate hike by the U.S. Federal Reserve dented investor sentiment.

The S&P/ASX 200 index closed 2.1% lower, coming off a holiday-extended weekend, after logging its sharpest fall since Feb. 24 earlier in the session.

Export-reliant miners were the worst performers on the Australian benchmark after iron ore prices plunged as the strict COVID-19 situation in China worsened an already soft demand outlook.

The sub-index slumped 5.6%, touching over a five-week low with sector giants BHP Group, Rio Tinto falling between 4.3% and 5.8%, while Fortescue Metals Group lost 6.9%.

"Markets are concerned that additional lockdowns in China could crimp demand for domestic imports, including iron ore, coal, oil, and gas. Speculations are rife that a slowdown in the Chinese economy could deliver a serious knock-on effect on its trade partners, such as Australia," said Kunal Sawhney, chief executive officer of Kalkine Group.

Energy stocks shed 4% on weaker overnight oil prices with the country's largest independent coal miner, Whitehaven Coal, leading the losses in the sub-index after dropping 6.2%.

Oil giant Woodside Petroleum Ltd fell 4.6% despite posting more than a two-fold jump in its quarterly revenue.

The market priced in an interest rate hike by the Fed next week and anticipated the start of a reduction in the U.S. central bank's balance sheet as it ramps up its fight to control inflation.

Financials lost over a percent with the "Big Four" banks ending the trade in negative territory.

Technology stocks fell 1.7% as investors priced in looming fears of a potential interest rate hike, which particularly hits growth-based stocks.

Diversified miner South 32 Ltd slumped 7.9% despite posting a jump in third-quarter metallurgical coal output.

New Zealand's benchmark S&P/NZX 50 index ended 0.8% lower at 11,813.18 points.

(Reporting by Jaskiran Singh in Bengaluru; Editing by Sherry Jacob-Phillips)