Reuters: Hot Stocks: Australia shares down 0.6 pct; end the quarter 7 pct higher

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Australia shares down 0.6 pct; end the quarter 7 pct higher Mar 28th 2013, 05:29 Tweet Share this Email Print Thu Mar 28, 2013 1:29am EDT (Updates to close) SYDNEY, March 28 (Reuters) - Australian shares dropped 0.6 percent on Thursday, with both banks and miners ending lower, as investors shunned long positions on the last day of trade before Easter. Sentiment also turned weaker after China, which is Australia's biggest trading partner, ordered banks to tighten controls over wealth management products, highlighting the risks to its financial system. The S&P/ASX 200 index lost 28.5 points to close at 4,966.5, according to the latest data. The benchmark ended the month 2.7 percent lower, the biggest decline in ten months, but was still 6.8 percent stronger for the quarter. New Zealand's benchmark NZX 50 index clawed back and rose 0.2 percent to close at a record high of 4,422.8. (Reporting By Maggie Lu Yueyang; Editing by Sanjeev Miglani) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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