SYDNEY, Mar 28: Australian shares dropped 0.6 percent on Thursday, with both banks and miners ending lower, as investors shunned long positions on the last day of trade before Easter.
Sentiment also turned weaker after China, which is Australia’s biggest trading partner, ordered banks to tighten controls over wealth management products, highlighting the risks to its financial system.
The S&P/ASX 200 index lost 28.5 points to close at 4,966.5, according to the latest data. The benchmark ended the month 2.7 percent lower, the biggest decline in ten months, but was still 6.8 percent stronger for the quarter.
New Zealand’s benchmark NZX 50 index clawed back and rose 0.2 percent to close at a record high of 4,422.8.
(AGENCIES)
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