Australia: Shares ease to 3-1/2 mth low as resources rout continues

[SYDNEY] Australian shares slid to a 3-1/2-month low on Wednesday as falling commodity prices pushed down mining and energy stocks.

Investors looked past a survey showing a measure of Australian consumer sentiment surged in May following this month's interest rate cut and the federal budget.

The S&P/ASX 200 index see-sawed between positive and negative territory before closing down 5.2 points or 0.1 per cent at 5610.3, its third consecutive day of declines and its lowest since Jan. 30. The benchmark is down more than 3 per cent this month.

New Zealand's benchmark NZX 50 index shed 1.4 points or 0.02 per cent to finish the session at 5755.8.

REUTERS