(Updates to close)
Oct 5 Australian shares fell on Wednesday, with
mining stocks hurt by declines in commodity prices.
Investor confidence also was bruised by a report that the
European Central Bank was withdrawing its bond buying program,
though an ECB media officer denied there was any such plan under
The S&P/ASX 200 index skidded 31.1 points or 0.57
percent to 5,452.9 at the close of trade.
Global markets were also subdued on concerns of an interest
rate hike by the U.S. Federal Reserve in December, with
investors taking to the sidelines, awaiting further cues.
The materials sector underperformed other sectors in the
region, with Newcrest Mining slipping to four month
lows, tracking a three percent slump in gold prices.
The gold index fell as much as 7.5 percent to a
Syrah Resources was the biggest percentage loser on
the benchmark, shedding 26 percent on what was its worst trading
day in more than 5 years.
Meanwhile, New Zealand's benchmark S&P/NZX 50 index
lost 1.1 percent or 81.3 points to finish the session at
7,271.16, battered by losses in industrial and utility shares.
Poultry farmer Tegel Group Holdings fell 6.3
percent to post its worst intraday performance ever, while
infrastructure company Infratil Ltd plunged to a
Infratil on Wednesday announced that it would invest around
$100 million in U.S. renewable energy firm Longroad Energy
(Reporting by Aparajita Saxena in Bengaluru; Editing by Simon