Australian shares snapped a four-day winning streak on Thursday, falling 0.7 percent as commodity prices and stocks offshore lost ground, although the market pared steeper losses after local employment figures topped expectations. "The Australian market has reversed part of its heavy losses on the back of a better-than-expected unemployment number and a turnaround in US futures.
Investors bailed out of mining and energy plays today, preferring safer plays like healthcare and staples," said Ben Taylor, trader at CMC Markets. The benchmark S&P/ASX 200 index fell 32.7 points to 4,483.8, according to the latest data, off a session low of 4,459.9. It rose 0.7 percent to 4,516.5 on Wednesday to hit a one-week closing high.
New Zealand's benchmark NZX 50 index rose 0.3 percent to 3,955.25. Top miner BHP Billiton fell 0.9 percent to while Rio Tinto sank 1.1 percent. ANZ Banking Group sank 4.5 percent to A$24.37 as it traded ex-dividend.
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