Australia: Shares start 2016 on a tepid note
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[SYDNEY] Australian shares gave up early gains to end 0.5 per cent lower on Monday led by losses in banks as a sell-off in Chinese equities dampened risk sentiment.
The S&P/ASX 200 index fell 23.36 points to 5,270.50 at the close of trade. Earlier in the session, the benchmark had risen as much as 0.7 per cent.
The Australian benchmark index fell 2.1 per cent in 2015, its first annual loss in four years as slumping iron ore and metal prices hit blue-chip mining stocks, while onerous capital rules hurt the heavyweight banking sector.
New Zealand's S&P/NZX 50 index was shut for a public holiday and will re-open on Tuesday.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
‘We’ve seen the worst-case scenario’: How Indonesia’s Cinema XXI navigated crisis and change
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
S-E Asia tourism takes hit from Middle East crisis, but intra-regional travel could spell hope
Auditors flag uncertainty on Katrina Group’s ability to continue as a going concern
