Australian shares fall 0.9 pct, biggest weekly loss in a year
(Updates to close) SYDNEY, June 7 (Reuters) - Australian shares fell 0.9 percent on Friday and posted their biggest weekly loss in a year, as selling in resource stocks dragged the index to a near five-month low. Investors were inclined to reduce exposure before the release of U.S. jobs data later in the day, which could provide clues about the future of the Federal Reserve's stimulus measures, analysts said. The S&P/ASX 200 index lost 43.5 points to 4,737.7, the lowest since Jan. 16. The index ended the week down 3.8 percent, its biggest weekly loss since May 2012. Newcrest Mining Ltd, the world's No. 3 gold miner, fell 7.6 percent to an eight-year low, after the company said it would write down its asset values by up to $6 billion in response to the worst slide in gold prices in 30 years. New Zealand's benchmark NZX 50 index slipped 0.3 percent to 4,439.9. (Reporting by Maggie Lu Yueyang; Editing by Chris Gallagher)
- Insight: How U.S. spying cost Boeing multibillion-dollar jet contract
- Exclusive: Secret contract tied NSA and security industry pioneer |
- With Fed out of the way, what's next on Wall Street?
- Yemeni al Qaeda says attack on hospital was mistake
- Insight: For Chinese farmers, a rare welcome in Russia's Far East