SYDNEY/WELLINGTON: Australian shares ended lower on Thursday as appetite for risky assets faded on fears that the country's relationship with China could further sour following a report that the government would block a Chinese buyout offer of a local dairy firm. The S&P/ASX 200 index slipped 0.8% to 6,120.00 at the close of trade. The benchmark gained 0.7% on Wednesday.
The Australian Financial Review reported that Australia will not approve China Mengniu Dairy Co's proposed buyout of some of the country's best-known milk brands from Japan's Kirin Holdings Co. The energy sector was the worst performer falling 3.7% at close, in its worst session since July 31, hurt by lower oil prices. Shares of oil and gas heavyweights Santos and Origin Energy closed about 4.8% and 6.1% down, respectively, after both reported a dip in underlying profits. The healthcare index fell 2.7% pressed down by industry heavyweight CSL Ltd's 3.9% decline.
In New Zealand, the benchmark S&P/NZX 50 index fell 0.8% to 11,662.2. Top losers on the were Mercury NZ Ltd, down 3.4%, followed by Vista Group International Ltd, losing 3.1%.
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