Reuters: Hot Stocks: Australia shares down 1.2 pct after jobs data, miners hit

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Australia shares down 1.2 pct after jobs data, miners hit Mar 14th 2013, 05:29 Thu Mar 14, 2013 1:29am EDT SYDNEY, March 14 (Reuters) - Australian shares fell 1.2 percent on Thursday, the biggest percentage loss in eight days, with miners hit hardest by sinking iron ore prices while market sentiment was dented by a strong jobs report which reduced chances for a rate cut. Data showed Australian employment soared by 71,500 in February, far above any forecast and the biggest increase in over a decade, which were seen as almost ruling out any cut in interest rates before the middle of the year. The S&P/ASX 200 index dropped 60.2 points to 5,032.2, according to the latest data. It fell 0.5 percent on Wednesday. New Zealand's benchmark NZX 50 index rallied 0.9 percent, reaching an all-time close high of 4,381.1, after the Reserve Bank of New Zealand said it expected to keep interest rates at a record low in 2013. (Reporting by Maggie Lu Yueyang; Editing by Jacqueline Wong)

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