SYDNEY/WELLINGTON: Australian shares fell on Thursday, weighed down by energy and financials stocks, as talks on a new US fiscal coronavirus aid package dragged on, raising fears of a delayed deal. The S&P/ASX 200 index fell 1.5% in intraday trade before miners helped it recoup some of the losses to settle 0.3% lower at 6,173.80, its lowest close since Oct. 12.
Australian energy stocks closed 1.9% lower as oil prices extended losses after a build in US inventories pointed to a deteriorating outlook for fuel demand. Oil Search closed 3.7% lower after hitting a two-week low earlier in the day, while Santos slipped 1.9%.
Financials fell 0.5% after earlier touching their lowest level in more than a week. The "Big Four" banks - Australia and New Zealand Banking Group, National Australia Bank Commonwealth Bank of Australia and Westpac Banking Corp - slipped between 0.5% and 0.8%. Gold stocks declined 0.7% as bullion prices retreated. Resolute Mining fell 6.4% and Chalice Gold Mines lost 6.7%.
Miners finished 0.2% higher, with both BHP Group and Rio Tinto adding about 1%. In New Zealand, the benchmark S&P/NZX 50 index fell 0.2% to 12,407.3. Top losers were Chorus Ltd, down 2.1%, and Fisher & Paykel Healthcare Corp, losing 1.7%.
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