🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

Australia, NZ shares fall amid renewed trade-war concerns

Published 06/12/2018, 05:10 pm
Updated 06/12/2018, 05:20 pm
© Reuters.  Australia, NZ shares fall amid renewed trade-war concerns
AXJO
-
BHP
-
CBA
-
ANZ
-
RIO
-
NAB
-
RIO
-
AXMM
-
AXFJ
-
NZ50
-
ATM
-

* Fresh trade-war worries hurt ASX stocks, falls for third session

* Miners lead the decline

* Financials and consumer non-cyclicals hurt NZ

(Updates to close)

Dec 6 (Reuters) - Australian shares fell to an over two-week low on Thursday after Canadian authorities arrested a senior executive of Chinese tech giant Huawei for extradition to the United States, sparking fears of a fresh clash between Washington and Beijing.

The arrest put another layer of cloud over Sino-U.S. trade talks, souring risk sentiment that has already been battered by a flattening of U.S. Treasury yields and slackening global economic growth. MKTS/GLOB

The S&P/ASX 200 index .AXJO extended losses to a third straight session as it dropped 0.2 percent or 10.70 points to 5,657.7 at the close of trade. The benchmark fell 0.8 percent on Tuesday.

Most sectors ended the day lower, with the metals and mining index .AXMM slumping 1.2 percent, hurt by weaker metal prices. IRONORE/

BHP Group Ltd BHP.AX , the biggest firm by market value, and Rio Tinto (LON:RIO) RIO.AX tumbled 1.4 and 2 percent, respectively.

Financial stocks .AXFJ lost 0.6 percent in the session.

Top lender Commonwealth Bank of Australia CBA.AX fell 0.5 percent, while National Australia Bank Ltd NAB.AX slid about 1 percent to its lowest in more than two-weeks.

Meanwhile, New Zealand's benchmark S&P/NZX 50 index .NZ50 dipped 0.3 percent or 23.31 points lower to finish the session at 8,758.220.

Financials and consumer non-cyclicals dragged the index, with NZ listed shares of Australia and New Zealand Bank ANZ.NZ easing 1.5 percent and heavyweight A2 Milk ATM.NZ losing 2.7 percent.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.