Miners led losses with top two BHP Billiton and Rio Tinto both falling over 2 percent. Spain's borrowing costs jumped to levels seen as unsustainable on Thursday, while Greek police clashed with anti-austerity protesters and Italy announced sweeping reforms to deal with the long-running crisis. Telstra, Australia's largest telecoms provider, fared better, dropping 0.6 percent. It told investors it was on track to meet guidance of low single-digit growth in total revenue and earnings. The benchmark S&P/ASX 200 index fell 60.73 points to 4,197.50 at 2341 GMT. New Zealand's benchmark NZX 50 index slipped 0.5 percent to 3,261.93 points.