(Updates to close)
Oct 17 Australian shares closed lower on Monday,
with Crown Resorts Ltd posting its biggest daily
decline on record after it said 18 of its employees including
its head of VIP gambling had been detained by Chinese
Crown Resorts, Australia's biggest casino company, slumped
The S&P/ASX 200 index extended losses into a fourth
consecutive session, closing down 0.8 percent or 45.33 points at
5,388.7, its lowest in almost three weeks.
Sentiment also remained subdued after Federal Reserve Chair
Janet Yellen on Friday expressed concerns of weakening U.S.
economic potential and said that the Fed may need to run a
"high-pressure economy" to reverse damage from the 2008-2009
Losses were driven by consumer cyclicals, healthcare and
financials. Domino's Pizza Enterprises Ltd was the
second biggest percentage loser on the main index, shedding 2.5
New Zealand's benchmark S&P/NZX 50 index fell nearly
1 percent or 66.89 points to finish at 7,066.37, its lowest in
Orion Health Group Ltd was the biggest percentage
loser on the index, falling 4.5 percent to its lowest in more
than six months.
(Reporting by Geo Tharappel in Bengaluru; Editing by Kim