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Australian shares track Wall Street declines; NZ flat

Published 30/12/2020, 12:02 pm
© Reuters.
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* Technology, gold stocks fall most

* ASX trading volumes at about one-fifth of 30-day avg

* Newcrest Mining at near eight-month low

* NZ flat, pulling back from early gains

Dec 30 (Reuters) - Australian shares fell on Wednesday, tracking a slide in major Wall Street indexes overnight, as uncertainty over additional U.S pandemic aid dented broader market sentiment.

The S&P/ASX 200 index .AXJO declined 0.9% by 0028 GMT. Trading volumes were around a fifth of their thirty-day average.

While the U.S House of Representatives voted for $2,000 coronavirus aid checks from the previously approved $600, doubts emerged if the Senate would authorise the checks. The uncertainty weighed on U.S. stocks overnight. .N

In Australia, technology stocks .AXIJ fell as much as 1.2%, with buy-now-pay-later firms Afterpay Ltd APT.AX and Zip Co Ltd Z1P.AX each losing more than 1.4%.

The heavyweight financial sub-index .AXFJ slipped 0.5%, with the "Big Four" banks losing between 0.1% and 0.28%.

Healthcare stocks .AXHJ also pulled back, with sector heavyweight CSL Ltd CSL.AX dipping 0.3%. Regenerative drugmaker Mesoblast MSB.AX fell as much as 1.7% and was the biggest loser on the sub-index.

The mining index .AXMM fell as much as 0.6%, as Chinese iron ore futures DCIOcv1 tumbled 6% on expectations of a hit to demand from a recent cold spell and worries over a rise in virus cases in China. miners Rio Tinto (LON:RIO) RIO.AX and BHP Group Ltd BHP.AX eased around 0.2%, while Fortescue Metals Group FMG.AX shed 0.5%.

Gold stocks .AXGD were the session's worst performers, declining nearly 2%, with top miner Newcrest Mining NCM.AX falling as much as 1.7% to hit its lowest since May 1.

Despite an uptick in oil prices, the energy index .AXEJ lost 1%. Index heavyweights Santos Ltd STO.AX and Woodside Petroleum WPL.AX both fell as much as 0.8%.

New Zealand's benchmark S&P/NZX 50 index .NZ50 stood flat at 13,247.59, shedding small gains clocked earlier in the session.

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