Australia shares slip on fears of economic pain from coronavirus; NZ slips [Reuters]
NEWCREST MINING LTD S/ADR (NCMGY)
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Source: Reuters
Australia shares slip on fears of economic pain from coronavirus; NZ slips * Mining index dragged by weak production results * CSL pulls healthcare index lower * Banks buck trend on falling odds of Feb interest rate cut (Updates to close) By Nikhil Subba Jan 30 (Reuters) - Australian shares ended lower on Thursday, with mining stocks dominating the losses, as a sharp rise in the death toll from the coronavirus epidemic dented risk appetite and fanned fears of an economic slowdown in China. The S&P/ASX 200 index slipped 0.3% to 7,008.40 at the close of trade. The benchmark closed 0.5% higher on Wednesday. The virus had claimed 170 lives in China, Australia’s largest trading partner, as of end-Wednesday, with the number individuals infected exceeding the 5,327 registered during the Severe Acute Respiratory Syndrome (SARS) outbreak in 2002 and 2003. . “We assess that Australia’s GDP could be around 0.2% lower in 2020 as a consequence of the coronavirus, with most of this being felt in Q1
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