* Metals and mining index down 3.5 pct
* Energy shares close at 6-month low
* AMP falls nearly 25 pct, biggest loss among Aussie shares (Updates to close)
Oct 25 (Reuters) - Australian shares sank across the board on Thursday to end at a more than one-year low, with metals and mining leading the descent after Wall Street’s biggest daily decline since 2011 set the bearish tone.
The S&P/ASX 200 index fell for a fifth straight session, closing 2.8 percent down at 5664.1. The benchmark was marginally lower on Wednesday.
The Australian metals and mining index fell 3.5 percent to a more than one-month closing low.
The world’s biggest miner BHP declined 4 percent to a more than six-month low, while peer Rio Tinto fell 4.5 percent.
Iron ore miner Fortescue Metals slumped 5.7 percent after it said quarterly iron ore shipments fell 8.6 percent from a year earlier, on reduced demand from China.
Financial shares closed 3 percent lower. Among the “Big Four” banks, Australia and New Zealand Banking Group led losses, while the largest lender Commonwealth Bank of Australia declined 1.8 percent.
The country’s largest wealth manager AMP Ltd plunged nearly 25 percent and was the biggest decliner on the Australian benchmark after it announced the sale of its life insurance arm at a discount.
The sector has been hit hard this year by revelations of widespread misconduct following an inquiry.
Extending significant losses into a fourth session, the energy sector closed at a six month low.
Oil and gas producers Woodside Petroleum and Santos Ltd fell 2 percent and 1.6 percent, respectively.
Bucking the trend, gold shares advanced as safe haven bids for the yellow metal saw prices climb towards a more than three-month peak.
Newcrest Mining extended gains and rose 0.7 percent, while Evolution Mining advanced 0.6 percent.
New Zealand’s benchmark S&P/NZX 50 index fell 0.9 percent or 74.01 points to close at 8568.23.
A2 Milk fell 1.9 percent and medical device maker Fisher & Paykel Healthcare Corp lost 1.6 percent. (Reporting by Niyati Shetty in Bengaluru; editing by Simon Cameron-Moore)