Australia: Shares edge lower as Sino-US friction weighs; NewZealand up
Australian shares fell on Wednesday, as developments on the Sino-U.S. diplomatic tiff over Hong Kong dampened sentiment and cancelled out any boost from easing lockdown restrictions and the resumption of normal activity.[BENGALURU] Australian shares fell on Wednesday, as developments on the Sino-U.S. diplomatic tiff over Hong Kong dampened sentiment and cancelled out any boost from easing lockdown restrictions and the resumption of normal activity.
The S&P/ASX 200 index was down 0.48 per cent at 5,752.3 points, as of 0041 GMT. The benchmark ended 2.9 per cent firmer on Tuesday. Casting darker shadows over the US-China ties were reports that Washington was working on a strong response to Beijing's planned national security legislation for Hong Kong and that it would be announced before the end of the week.
Miners were the biggest drag on the benchmark, shedding 3.4 per cent with shares of heavyweights BHP Group and Rio Tinto declining 2.9 per cent and 3.2 per cent, respectively. Gold stocks dropped 5.4 per cent, led by Northern Star Resources, down 7.05 per cent, followed by Saracen Mineral Holdings that lost 6.93 per cent.
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