CANBERRA: Australian shares slipped 0.3 percent on Wednesday, drifting down for three straight days, as investor sentiment swings between concerns over weak growth in major economies and hopes for monetary easing measures to jump-start the global economy.
A slowdown in China, Australia's top ore consumer, continue to weigh on mining stocks, as China steel futures fell on Wednesday for the first time in three sessions, putting more pressure on spot iron ore prices that may fall below $100 per tonne again this week.
Global miner BHP Billiton fell 1.3 percent to A$32.81, while major rival Rio Tinto lost 2.0 percent to A$52.89.
The benchmark S&P/ASX 200 index shed 11.3 points to 4,361.6, according to latest data. The benchmark dropped 0.3 percent on Tuesday to close at a two-week low.
New Zealand's benchmark NZX 50 index fell 0.4 percent to 3,809.3.
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