Australian shares down

Australian stocks fell 1.2 percent on Thursday as miners and energy firms sank on softer copper and oil prices, and banks recoiled in a cautious session ahead of clues to economic strength in the United States. US consumer prices, existing home sales and regional manufacturing data will be closely watched later on Thursday as investors around the globe gauge whether the world's largest economy is headed for recession.
The benchmark S&P/ASX 200 index fell 52.7 points to 4,251.2, according to the latest data, eroding Wednesday's 1.3 percent gain. New Zealand's benchmark NZX 50 lost 3.9 points to 3,286.2. APN News & Media slumped 12 percent to a record low of A$0.78 after a large write-down, on 4 times its usual volume.