Reuters: Hot Stocks: Australian shares hit 4-month closing low; miners weak

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Australian shares hit 4-month closing low; miners weak Jun 3rd 2013, 06:32 Mon Jun 3, 2013 2:32am EDT SYDNEY, June 3 (Reuters) - Australian shares fell 0.8 percent to their lowest close in four months on Monday as weak metal prices dragged down miners like BHP Billiton Ltd, while disappointing local and Chinese economic data soured investor sentiment. The S&P/ASX 200 index fell 38.3 points to 4,888.3, marking the lowest close since early February, according to the latest data. The benchmark slipped 0.1 percent on Friday. Chinese factory activity shrank for the first time in seven months in May as both domestic and external demand softened, while growth in the services sector cooled, pointing to slowing momentum in the world's second-largest economy. BHP Billiton dropped 2.3 percent and Rio Tinto Ltd lost 2.5 percent. Iluka Resources Ltd fell 1.1 percent. But banks recovered after the sector was battered in May. Westpac Bank Banking Corp climbed 2 percent while Australia and New Zealand Banking Group gained 1.1 percent. New Zealand's benchmark NZX 50 index climbed 0.9 percent or 40.8 points to 4,511.4. (Reporting by Thuy Ong; Editing by Chris Gallagher)

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