Australia: Shares hit 3-wk lows, iron ore miners slump
[SYDNEY] Australian shares ended at their lowest in over three weeks on Tuesday with further declines in iron ore prices taking a heavy toll on some miners.
The S&P/ASX 200 index slipped 0.2 per cent, or 12.8 points, to 5,399.7, extending Monday's 0.8 per cent fall.
Junior iron ore miner BC Iron led the losers, slumping 10.3 per cent to A$0.655. Fortescue Metal Group skidded 6.6 per cent to A$2.97.
Benchmark iron ore spot prices .IO62-CNI=SI plumbed their lowest since 2009, stretching this year's rout as a supply glut continued to pressure the commodity.
New Zealand's stocks fared better with the benchmark NZX 50 index climbing 0.3 per cent, or 14.8 points, to a record closing high of 5,505.0.
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
Singapore shares retreat at Thursday’s open; STI down 1.1%
Stocks to watch: Keppel, FCT, Suntec Reit, OUE Reit, Clint, Digital Core Reit, OKP, Cordlife
Europe: Stoxx 600 falls on banks drag; tech contains losses on ASMI boost
US: Stocks end flat ahead of key inflation data
Hong Kong spot crypto ETFs to start trading next week
Greenback recovers from PMI slump, yen closes in on 155 per dollar