Australia: Shares slump as weak data, China concerns unnerve investors
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[SYDNEY] Australian shares fell the most in three months on Thursday as weak domestic economic data, concerns about slowing Chinese growth and a slump in the oil price all weighed on investors.
Financial stocks led the benchmark index lower for a fifth straight session, after official data showed building approvals down nearly 13 per cent for November, four times the rate of decline forecast by analysts.
The S&P/ASX 200 index dipped 112.8 points, or 2.2 per cent, to 5,010.3 at the close of trade. The benchmark has fallen every trading day in 2016, and is now 5.4 per cent for the year so far.
New Zealand's benchmark S&P/NZX 50 index fell 0.8 per cent, or 49.1 points, to finish the session at 6,213.4.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Middle East-linked energy supply shocks put Asean Power Grid back in focus
