Australia: Shares fall on commodities, US rate hike fears
[SYDNEY] Australian shares fell the most in nine weeks on Monday as investors continued to cash in on recent multi-year highs, while upbeat US jobs data raised expectations the Fed will raise interest rates sooner rather than later.
Large resources stocks weighed down the benchmark index after iron ore hit a record low following reports of Chinese steel mill closures.
The S&P/ASX 200 index ended down 1.3 per cent or 77.6 points at 5821.3, its biggest fall since Jan 6 and its lowest close since Feb 12. The index reached a 7-year closing high a week earlier.
New Zealand's benchmark NZX 50 index dropped 0.1 per cent or 6.1 points to finish the session at 5897.0.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Asia: Markets build on Wall Street rally, yen holds bounce
Singapore shares open in the red on Tuesday; STI down 0.3%
Stocks to watch: Wilmar, MLT, FEHT, CDLHT, Starhill Global Reit, IReit Global
Europe: Stocks eke out gains after German inflation data; Deutsche Bank drops
US: Stocks end higher, extending rally
Yen surges against US dollar on suspected intervention