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Australia shares edge lower on soft miners, caution ahead of budget
May 12, 2014 / 6:21 AM / 3 years ago

Australia shares edge lower on soft miners, caution ahead of budget

(Updates to close)

SYDNEY, May 12 (Reuters) - Australian shares fell 0.2 percent on Monday, dragged by big miners on soft iron ore prices while most investors took a cautious stance ahead of the coalition government’s first federal budget.

The S&P/ASX 200 index lost 12.4 points to close at 5,448.4. The benchmark dipped 0.3 percent on Friday.

New Zealand’s benchmark NZX 50 index inched up 0.2 percent to 5,162.4.

Reporting by Maggie Lu Yueyang; Editing by Shri Navaratnam

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