By Cecile Lefort
SYDNEY, Oct 14 (Reuters) - Australian shares fell 0.5 percent on Wednesday, with losses across the board as fears of slowing global growth prompted selling of riskier assets.
The S&P/ASX 200 index .AXJO slid 24.25 points to 5,178.5 by 0206 GMT, pulling further away from recent six-week highs. It has shed around 2 percent since Monday.
Much of this week's damage came after weak Chinese inflation and trade data added to uncertainty about its cooling economy. China is Australia's top export market.
Companies in the energy sector suffered most from the combination of falling oil prices and profit-taking following recent hefty gains.
Santos STO.AX was hit hardest with an 7.3 percent drop, pulling closer to a 15-year trough touched in late September. It has tumbled 37 percent so far this year.
Liquefied Natural Gas LNG.AX and Origin Energy ORG.AX shed more than 5 percent each.
Financial firms also came under pressure, with Australia & New Zealand Bank ANZ.AX and Macquarie Group MQG.AX down 1 percent.
Westpac Banking Corp's WBC.AX decision to raise home loan rates combined with a survey pointing to improving consumer confidence in Australia did little to lift investor mood.
Miners extended losses with Fortescue Metal Group down 2.2 percent and BHP Billiton (L:BLT) BHP.AX off 1.2 percent.
In contrast, New Zealand's benchmark NZX 50 index added 0.3 percent or 15.58 points to 5,718.4. It climbed as far 5,728.5, its highest since late August, where it met hefty resistance.
Insurance company Tower was the biggest winner, up 2.1 percent, recovering from a one-year low in early trade. The stock is still down 10 percent so far this year.
Financial services provider Heartland New Zealand rose 1.7 percent following Tuesday's announcement that it would acquire Motor Trade Finances.
(Editing by Kim Coghill)