Reuters: Hot Stocks: Australian shares continue falls on global uncertainty

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Australian shares continue falls on global uncertainty May 27th 2013, 06:21 Mon May 27, 2013 2:21am EDT SYDNEY May 27 (Reuters) - Australian shares fell 0.5 percent on Monday, extending last week's sharp decline to one-month lows as investor sentiment was hit by volatility in the Japanese market and fears the U.S. Federal Reserve may scale back its stimulus measures. Japan's Nikkei index slid more than 3 percent on Monday, extending last week's slide and causing investors to worry that a bout of profit-taking had turned into lasting doubt about the growth and riskiness of markets. The S&P/ASX 200 index slid 23.6 points in its fifth consecutive session of falls to finish at 4,959.9, according to the latest data. The benchmark lost 3.8 percent last week - the biggest weekly drop in a year. High yielding stocks including defensives were heavily sold off. Biotechnology firm CSL Ltd lost 0.9 percent. Consumer retail staples Woolworths Ltd dropped 1.1 percent to trade at 3-month lows, while Wesfarmers Ltd slipped 0.3 percent to 6-week lows. New Zealand's benchmark NZX 50 index dived 1.1 percent or 48 points to 4,478.2. (Reporting by Thuy Ong; Editing by Kim Coghill)

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