Australia: Shares tumble to 1-month low as weak commodities, Fed weigh
[SYDNEY] Australian shares slumped to a one-month low on Monday, falling the most since Oct 2 as investors fretted about tumbling commodity prices and the risk of a US rate hike in December.
The S&P/ASX 200 index skidded 1.8 per cent, or 95.5 points, to 5,119.5 at the close of trade. It rose 0.4 per cent on Friday.
The market has fallen in seven out of the last 10 sessions, led by a rout in banking stocks on concerns of slowing profit growth. It is down 5 per cent so far this year.
New Zealand's benchmark NZX 50 index dipped 0.4 per cent or 21.9 points to finish the session at 6,047.9.
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
What to expect as US moves towards faster stock settlement
US: Stocks stabilise after choppy trading week ahead of long weekend
Europe: Stocks end week lower as rate worries resurface
Oil posts weekly loss as interest rate policy spurs fuel demand worries
US dollar slips on profit taking but upbeat outlook remains
Singapore stocks end lower on Friday as investor appetite sours; STI down 0.2%