(Updates to close)
SYDNEY, March 4 (Reuters) – Australian shares fell 1.5
percent on Monday as lower metal prices and caution ahead of
domestic economic data due later this week prompted
profit-taking after strong rallies in riskier assets early this
year.
The Reserve Bank of Australia will make a rate decision on
Tuesday, while fourth-quarter GDP data will be released on
Wednesday and January trade data is out on Thursday.
The benchmark S&P;/ASX 200 index lost 75.6 points to
5,010.5, according to the latest data.
Adding to the selling pressire, some blue chip stocks such
as global miner BHP Billiton went ex-dividend.
The Australian market has gained around 8 percent so far
this year and hit a 4-1/2 year high last Thursday before pulling
back on fresh concerns over sluggish growth in China and the
impact of budget spending cuts in the United States.
New Zealand’s benchmark NZX 50 index fell 1.5
percent to 4,253.6.
(Reporting by Maggie Lu Yueyang; Editing by Kim Coghill)
