Thursday, September 8, 2016

Australia shares dragged down by banks, basic materials; NZ lower

Australian shares fell to their lowest in close to two months on Thursday as many investors were edgy about global economic prospects, and some encouraging trade data from China did not lift spirits.

All sectors, led by financials and basic materials, wallowed in red seeking cues from global economic events queued up in the day.

The S&P/ASX 200 index was at its lowest since mid-July, down 47.55 points, or 0.9 per cent, at 5376.7 at 0246 GMT. The benchmark rose marginally on Wednesday.

China August trade data, awaited as a gauge of global demand, topped forecasts as imports recorded their first annual rise since late 2014. But that didn't help Australian shares.
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