Australian Shares Fall to Fresh 16-Month Lows

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Australian Shares Fall to Fresh 16-Month Lows
Credit: © Reuters.

By Oliver Gray - The S&P/ASX 200 fell 0.6% or 41.1 points to 6433.4 during Monday’s deals, extending declines for the 7th consecutive session and closing at fresh 16-month lows as commodity prices such as iron ore and copper retreated on global growth concerns, weighing down the energy and materials sectors.

Among stocks, Woodside Energy Ltd (ASX: WDS ) fell 4.9%, Santos Ltd (ASX: STO ) lost 6%, Beach Energy Ltd (ASX: BPT ) dipped 8.3% and Viva Energy Group Ltd (ASX: VEA ) fell 2.9% as crude oil prices moved lower.

Mining heavyweights suffered as Rio Tinto Ltd (ASX: RIO ) dropped 5.1%, BHP Billiton Ltd (ASX: BHP ) lost 5.3%, Fortescue Metals Group Ltd (ASX: FMG ) dipped 8.6% and Champion Iron Ltd (ASX: CIA ) lost 11.9%.

Meantime, Real Estate stocks gained 3.8% with Goodman Group (ASX: GMG ) adding 3.4%, Charter Hall Group (ASX: CHC ) gaining 2.8%, Stockland Corporation Ltd (ASX: SGP ) up 4.2% and Scentre Group Ltd (ASX: SCG ) adding 4.8%.

On the bond markets, Australia 10-Year rates were at 4.073% while United States 10-Year yields were at 3.231%.

In New Zealand, the NZX 50 finished flat at 10,588.

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