Australia: Shares close near three-month lows
Add BT as a preferred source
[SYDNEY] Australian shares dropped for a second consecutive session on Tuesday as renewed weakness in iron ore weighed on sentiment, while New Zealand stocks edged lower.
The S&P/ASX 200 index closed down 0.8 per cent at 5,615.2 points, a whisker away from a three-month trough of 5,606.7 touched in early May. It has shed 2 per cent so far this week.
Losses were widespread with energy and property stocks down more than 1 per cent, closely followed by the heavyweight resources sector.
Yet, newly-listed South32, the spinoff of miner BHP Billiton rebounded 14 per cent following Monday's lacklustre debut.
New Zealand's benchmark NZX 50 index eased 0.3 per cent or 15.48 points to finish at 5,757.16.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
When every phone becomes a satellite phone, what happens to Asia’s telcos?
Jardine C&C selling Singapore, Malaysia dealerships to Indonesia’s Chandra Asri for US$221 million gain
Digital Realty, STT GDC among data centre operators awarded 50 MW of new capacity in Singapore
Upbeat outlook for CDL, UOL after strong H1 earnings
