November 8, 2012 / 11:28 PM / 5 years ago

Australia shares fall 1 percent, banks sink

(Updates to open)
    CANBERRA, Nov 9 (Reuters) - Australian shares fell 1.0
percent early on Friday, with big banks and miners dropping
after losses in Wall Street, as investors remain cautious about
U.S. fiscal woes and a change of leadership in China,
Australia's top consumer of resources. 
    Westpac Banking Corp tumbled 4.2 percent, while
global miner BHP Billiton dropped 1.0 percent and Rio
Tinto Ltd fell 1.6 percent.
    The benchmark S&P/ASX 200 index was down 42.2 points
to 4,441.6 by 2320 GMT. It fell 0.7 percent to 4,483.8 on
Thursday.   
    New Zealand's benchmark NZX 50 index slipped 0.1
percent to 3,950.1. 

 
 

 (Reporting by Maggie Lu Yueyang; Editing by Paul Tait)

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