AGL 38.16 Decreased By ▼ -0.06 (-0.16%)
AIRLINK 134.19 Increased By ▲ 5.22 (4.05%)
BOP 8.85 Increased By ▲ 1.00 (12.74%)
CNERGY 4.69 Increased By ▲ 0.03 (0.64%)
DCL 8.67 Increased By ▲ 0.35 (4.21%)
DFML 39.78 Increased By ▲ 0.84 (2.16%)
DGKC 85.15 Increased By ▲ 3.21 (3.92%)
FCCL 34.90 Increased By ▲ 1.48 (4.43%)
FFBL 75.60 Decreased By ▼ -0.11 (-0.15%)
FFL 12.74 Decreased By ▼ -0.08 (-0.62%)
HUBC 109.45 Decreased By ▼ -0.91 (-0.82%)
HUMNL 14.10 Increased By ▲ 0.09 (0.64%)
KEL 5.40 Increased By ▲ 0.25 (4.85%)
KOSM 7.75 Increased By ▲ 0.08 (1.04%)
MLCF 41.37 Increased By ▲ 1.57 (3.94%)
NBP 69.70 Decreased By ▼ -2.62 (-3.62%)
OGDC 193.62 Increased By ▲ 5.33 (2.83%)
PAEL 26.21 Increased By ▲ 0.58 (2.26%)
PIBTL 7.42 Increased By ▲ 0.05 (0.68%)
PPL 163.85 Increased By ▲ 11.18 (7.32%)
PRL 26.36 Increased By ▲ 0.97 (3.82%)
PTC 19.47 Increased By ▲ 1.77 (10%)
SEARL 84.40 Increased By ▲ 1.98 (2.4%)
TELE 7.99 Increased By ▲ 0.40 (5.27%)
TOMCL 34.05 Increased By ▲ 1.48 (4.54%)
TPLP 8.72 Increased By ▲ 0.30 (3.56%)
TREET 17.18 Increased By ▲ 0.40 (2.38%)
TRG 61.00 Increased By ▲ 4.96 (8.85%)
UNITY 28.96 Increased By ▲ 0.18 (0.63%)
WTL 1.37 Increased By ▲ 0.02 (1.48%)
BR100 10,786 Increased By 127.6 (1.2%)
BR30 32,266 Increased By 934.6 (2.98%)
KSE100 100,083 Increased By 813.5 (0.82%)
KSE30 31,193 Increased By 160.9 (0.52%)

Australian shares suffered their biggest fall in four weeks on Monday, as mining stocks lost ground after disappointing data out of China heightened worries about the global growth outlook. The S&P/ASX 200 index lost 45.6 points, or 0.9 percent, to finish at 4,967.9, after earlier dipping to a low of 4,933.3. It was the biggest one-day loss for the benchmark since March 18. The market edged up 0.1 percent on Friday.
China's economic recovery unexpectedly stumbled in the first three months of 2013 as the annual rate of growth eased back to 7.7 percent from the 7.9 percent pace set in the final quarter of last year, official data showed on Monday. "With today's numbers exhibiting a tone of weakness it was no great surprise to see traders backing away from risk-assets," said Tim Waterer, senior trader at CMC Markets. The weak China GDP data will be especially worrying after investors had been primed for an upside surprise versus the consensus of 8 percent. Australia is particularly sensitive to the growth cycle in China, which is its top export market and a big buyer of its resources.
Global miners, hit by weaker commodities prices, extended their losses following the downbeat China data. Top miners BHP Billiton and Rio Tinto Ltd dropped 3.1 percent and 3.2 percent, respectively. Gold miners were also sold off, with Newcrest Mining Ltd tumbling 8.2 percent and Regis Resources Ltd skidding 12 percent. "It hasn't been a great start to the trading week. What we're seeing is a big slump in those gold players, there is a lot of concern for gold at the moment as its not being seen as a safe-haven," said Juliette Saly, stock market analyst at Commonwealth Securities
Banks finished the session firmer. The country's biggest lender Commonwealth Bank of Australia added 0.7 percent while National Australia Bank gained 0.5 percent. Defensives leant some support to the index with the nation's biggest telecommunications provider Telstra Ltd climbing 0.9. New Zealand's benchmark NZX 50 index finished the session up 0.4 percent, or 18.9 points to 4,454.7.

Copyright Reuters, 2013

Comments

Comments are closed.