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Australia shares post biggest drop in five weeks, resources tumble
March 10, 2014 / 5:21 AM / 4 years ago

Australia shares post biggest drop in five weeks, resources tumble

(Updates to close)

SYDNEY, March 10 (Reuters) - Australian shares shares fell 0.9 percent on Monday, slipping from a 5-1/2 year high touched in the previous session, after disappointing Chinese trade data hit metals markets and sent resource stocks tumbling.

The S&P/ASX 200 index lost 50.8 points to 5,411.5 and had its biggest one-day percentage drop since Feb. 4. The benchmark added 0.3 percent on Friday and 1.1 percent last week.

New Zealand’s benchmark NZX 50 index slipped 0.2 percent or 7.8 points to finish the session at 5,117.8. (Reporting by Thuy Ong; Editing by Richard Borsuk)

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