Tuesday, March 12, 2013

Reuters: Hot Stocks: Australia shares fall 0.5 percent, financials drag

Reuters: Hot Stocks
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Australia shares fall 0.5 percent, financials drag
Mar 13th 2013, 05:18

Wed Mar 13, 2013 1:18am EDT

SYDNEY, March 13 (Reuters) - Australian shares closed 0.5 percent lower on Wednesday as investors took profits in a recent rally in the financial sector, but gains in mining stocks helped contain the weakness.

Westpac Banking Corp, Australia's third-largest lender by assets, posted the biggest loss among its "Big Four" peers, dropping 2.1 percent.

The S&P/ASX 200 index fell 25.5 points to 5,092.4, according to the latest data. It fell 0.6 percent on Tuesday.

New Zealand's benchmark NZX 50 index fell 0.9 percent to 4,341.1.

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