Australia: Shares stumble as China weighs
[SYDNEY] Australian shares extended falls to drop 1.6 per cent on Tuesday as traders played catch-up to a major sell-off in Chinese stocks the previous day, which sent shockwaves around the globe.
A semblance of calm returned to Chinese stocks on Tuesday with the CSI300 index of the largest listed companies in Shanghai and Shenzhen eking out a 0.8 percent gain in choppy trade.
Australia's S&P/ASX 200 index fell 86.08 points to 5,184.4 at the close of trade, a level last seen on Dec 24. This is the third consecutive day of loss for the benchmark and the biggest intra-day percentage drop since Dec 14.
China is Australia's major trading partner.
New Zealand's benchmark S&P/NZX 50 index fell 0.7 per cent or, 46.16 points to finish the session at 6,278.10, after hitting successive record highs in the past week.
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
Yen surges against US dollar on suspected intervention
Singapore stocks start week in the black ahead of Fed meeting; STI up 0.1%
Sembcorp announces long-term power purchase agreements with Equinix
Asia: Shares rise as Fed looms large; yen crumbles below key level
Singapore stocks decline at Monday’s open; STI down 0.3%
Stocks to watch: Singtel, Keppel, Great Eastern, Seatrium, Best World