Australia: Shares extend losses as Omicron concerns mount; Afterpay tumbles

[BENGALURU] Australian shares fell at open on Thursday, as concerns over the new Omicron coronavirus variant kept investors jittery, while Afterpay fell over 5 per cent after postponing meeting to vote on its US$29 billion deal with Jack Dorsey-led Square Inc.

The S&P/ASX 200 index fell 0.54 per cent to 7,197.1 by 2354 GMT, after ending 0.28 per cent lower on Wednesday.

The losses come a day after the country reported that its third quarter GDP fall was not as bad as anticipated, when its major cities were under lockdown.

Miners were among the top losers on the benchmark, dropping as much as 2 per cent.

Heavyweights BHP Group, Rio Tinto and Fortescue Metals Group slumped between 0.8 per cent and 1.3 per cent.

Tech stocks fell as much as 3.5 per cent, dragged lower by Afterpay dropping to its lowest since July after delaying its shareholder meeting to vote on its acquisition by Square Inc, pending regulatory approval from the Spanish central bank.

Openpay, which is not a part of the main index, however advanced as much as 8.3 per cent after signing a partnership with American Express to let AmEx's card holders to fund purchases with its buy now, pay later (BNPL) service.

In one of the country's biggest deals this year, Australian Pharmaceutical Industries soared as much as 16.4 per cent to a more than three-year high, after it received a buyout proposal from supermarket chain Woolworths for US$613 million, outbidding competitor Wesfarmers.

Woolworths and Wesfarmers lost 0.7 per cent and 0.3 per cent, respectively on the news.

New Zealand's benchmark S&P/NZX 50 index fell 0.48 per cent by 2354 GMT.

REUTERS