SYDNEY, March 2 (Xinhua) -- The Australian share market has ended sharply lower on Monday, as the first local person-to-person coronavirus infection was confirmed by health authorities.
At the close of trade, the benchmark S&P/ASX 200 index was down 49.70 points or 0.77 percent at 6,391.50, while the broader All Ordinaries index fell 50.40 points or 0.77 percent at 6,461.10.
"The Australian sharemarket slumped to a nine and a half month low, [at lunchtime] due to continued coronavirus fears and weak data on China's economy on Friday," Commsec market analyst Steven Daghlian told investors in an afternoon note.
"Local stocks are slipping for a seventh straight session and take the losses to more than 930 points or -13 percent for the index from the record highs hit just one and a half weeks ago."
In the financial space, Australia's big banks weakened with the Commonwealth Bank down (1.60 percent), Westpac Bank down (1.90 percent), National Australia Bank down (2.51 percent) and ANZ down (1.97 percent).
Mining stocks dived with BHP down (0.74 percent), Rio Tinto down (1.15 percent) and Fortescue Metals down (9.03 percent), however gold miner Newcrest was sharply higher (3.04 percent).
The country's oil and gas producers outperformed the broader market with Woodside Petroleum up (1.47 percent), Santos up (2.93 percent) and Oil Search up (0.91 percent).
Australia's largest supermarket chains saw mixed results with Coles Group up (3.24 percent) and Woolworths down (0.44 percent).
While telecommunications giant Telstra was unchanged (0.00 percent), the national carrier Qantas plummeted (3.98 percent) and biomedical firm CSL ended the session firmly lower (1.08 percent).
At the close of trade, the benchmark S&P/ASX 200 index was down 49.70 points or 0.77 percent at 6,391.50, while the broader All Ordinaries index fell 50.40 points or 0.77 percent at 6,461.10.
"The Australian sharemarket slumped to a nine and a half month low, [at lunchtime] due to continued coronavirus fears and weak data on China's economy on Friday," Commsec market analyst Steven Daghlian told investors in an afternoon note.
"Local stocks are slipping for a seventh straight session and take the losses to more than 930 points or -13 percent for the index from the record highs hit just one and a half weeks ago."
In the financial space, Australia's big banks weakened with the Commonwealth Bank down (1.60 percent), Westpac Bank down (1.90 percent), National Australia Bank down (2.51 percent) and ANZ down (1.97 percent).
Mining stocks dived with BHP down (0.74 percent), Rio Tinto down (1.15 percent) and Fortescue Metals down (9.03 percent), however gold miner Newcrest was sharply higher (3.04 percent).
The country's oil and gas producers outperformed the broader market with Woodside Petroleum up (1.47 percent), Santos up (2.93 percent) and Oil Search up (0.91 percent).
Australia's largest supermarket chains saw mixed results with Coles Group up (3.24 percent) and Woolworths down (0.44 percent).
While telecommunications giant Telstra was unchanged (0.00 percent), the national carrier Qantas plummeted (3.98 percent) and biomedical firm CSL ended the session firmly lower (1.08 percent).
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