Australia: Shares end lower on Fed fatigue

[SYDNEY] Australian shares fell one per cent on Monday, capping its worst monthly performance in seven years, amid confusion over central bank policy direction in the US and China.

The index fell 8.6 per cent in August, its biggest monthly decline since late 2008.

The S&P/ASX 200 index fell 56.6 points to close at 5,207.0. It had edged up 20.3 points to 5,263.6 on Friday.

Wall Street finished flat on Friday and Asian stocks sagged on Monday after comments by US Federal Reserve vice chairman Stanley Fischer left the door open for a September rate hike.

New Zealand's benchmark NZX 50 index slipped 0.25 per cent or 14.2 points to finish the session at 5,656.2.

REUTERS