Australian shares slipped 0.1 percent on Thursday, giving up early strength as data late in the session showed a surprise slowing in China's factory output growth to its weakest in more than three years, and key earnings reports missed expectations. The Australian economy is heavily influenced by demand from China, its largest export customer.
The overall market had been mildly higher for most of the session, comforted by positive domestic job data and as benign inflation figures from China suggested scope for further stimulus. Miners still finished strong, with Rio Tinto rebounding 3.6 percent to A$56.86 and BHP Billiton gaining 1.6 percent to A$32.80. "Our mining sector's recent underperformance-gap is starting to be closed," said Ben Taylor, trader at CMC Markets. Rio, the world's second-largest iron ore producer, said it expected to see improvement in Chinese economic activity by the end of the year. The benchmark S&P/ASX 200 index fell 4 points to 4,308.3, according to the latest data. New Zealand's benchmark NZX 50 index added 1.8 points to 3,583.6.
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