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ASX 200 hits 2-week low
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Woodside drops ahead of Friday's AGM
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Miners snap four-day losing streak
(Updates to close)
By Poonam Behura
April 27 (Reuters) - Australian shares ended lower for a
fifth straight session on Thursday led by financials, as fresh
concerns about U.S. banks weighed on sentiment.
The S&P/ASX 200 index closed down 0.3% at a two-week low of 7,292.7.
Fresh concerns about the global banking sector emerged after a sharp drop in U.S. lender First Republic Bank's market value, resulting in widespread losses across various Asian markets. "We are seeing a carryover from the concerns about U.S. banking sector, including First Republic, on the ASX 200," IG Australia market analyst Tony Sycamore said. Local lenders declined 0.5%, dragged by a 0.8% drop in Commonwealth Bank of Australia . Macquarie Group and Westpac Banking Group fell 0.3% and 0.2%, respectively.
Real estate , energy and healthcare stocks all closed in the red.
Newcrest Mining , down 2.1%, led an 0.3% dip in the gold index , after the miner reported weaker production in the third quarter. Syrah Resources topped losses on the ASX200, after flagging $539 million in costs to fund the expansion of its Louisiana-based facility that produces graphite-based active anode material.
Mining stocks , however, recovered from earlier losses and ended up 0.3% after four straight sessions of declines. Sector majors Rio Tinto BHP Group rose 0.2% and 0.8%, respectively.
Natural health firm Blackmores climbed 22.8% on receiving a A$1.88 billion ($1.24 billion) offer from Japan's Kirin Holdings Co Ltd Woodside Energy fell 0.8% ahead of its annual general meeting for Friday, where it is set to face investor backlash over climate concerns.
New Zealand's benchmark S&P/NZX 50 index fell 0.1% to end at 11,918.22.
Air New Zealand raised forecast for current year earnings due to strong demand for domestic and international travel, coupled with lower fuel costs than expected. (Reporting by Poonam Behura in Bengaluru; Editing by Rashmi Aich)
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