SYDNEY: Australian shares closed at their lowest in nearly a month on Tuesday, ahead of dire economic data that could reveal the severity of damage from Covid-19, with support from the central bank failing to calm investors.
The S&P/ASX 200 index ended 1.8% lower at 5,953.4.
Heavyweight financials shed 2.3%, with Commonwealth Bank of Australia and Westpac Banking Corp being the biggest drags.
Santos and Woodside Petroleum fell 3.7% and 2.9%, respectively. The energy index also dropped.
Qantas lost 1.3% after saying it had issued A$500 million of unsecured bonds to help strengthen liquidity and replace maturing debt.
Gold stocks were the sole gainers as the bullion rose on US dollar weakness.
In New Zealand, the benchmark S&P/NZX 50 index slipped 1.2% to 11,793.16.
NZX's website was down after cyber attacks on the stock exchange operator over the last week, although trading continued uninterrupted.
The Reserve Bank of Australia (RBA) held rates and planned an increase in the size of its term funding facility to around A$200 billion ($148.18 billion) for three years.-Reuters
Comments
Comments are closed for this article.