March 24 (Reuters) - Australian shares fell for a second
straight session on Friday and were set for a seventh straight
weekly loss, with financials dragging the bourse, while payments
firm Block Inc led losses after a short seller report.
The S&P/ASX 200 index fell 0.5% to 6,934.10 by 2347
GMT. The benchmark has slipped 0.9% this week.
ASX-listed shares of Block Inc plunged 15.2%,
leading declines on the bourse after Hindenburg Research alleged
that the company overstated its user numbers and understated its
customer acquisition costs.
Financials fell 1.1% and were set for a fourth
straight weekly loss, with the 'Big Four' banks dipping between
0.4% and 1.8%.
Energy stocks dropped 0.9% after oil prices fell. Santos and Woodside Energy fell 1.3% and
1.4%, respectively.
On the other hand, gold stocks advanced 0.9% after
bullion prices extended gains to a second straight session. For
the week, they have risen 6.7% so far, set for their best week
since Jan. 6. Newcrest Mining and Northern Star Resources rose 0.8% and 0.6%, respectively.
Local miners climbed 0.3%, with Fortescue Metals
Group adding 1%.
Separately, aged-care operator Estia Health Ltd received a non-binding buyout proposal from Bain Capital for
A$775.1 million ($517.77 million). Shares jumped 15.8% after the
announcement.
IPH Ltd said it has established new network
infrastructure and restored key system functionality, a week
after reporting a data breach that affected a portion of its IT
systems. Its shares were down 0.1%.
New Zealand's benchmark S&P/NZX 50 index fell 0.2%
to 11,575.35.
($1 = 1.4970 Australian dollars)
(Reporting by Echha Jain in Bengaluru; Editing by Rashmi Aich)
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