INSUBCONTINENT EXCLUSIVE:
Australian shares ended lower on Monday, weighed down by materials and banks after the crisis in Turkey hit Asian assets, while global trade
turmoil pushed commodity prices lower.
A renewed sell-off in the Turkish lira on Monday pushed Asian assets lower, driving demand for safe
havens.
The flight to safety dragged MSCI's broadest index of Asia-Pacific shares outside Japan down 1.3 percent to a five-week low.
The
SP/ASX 200 index fell 0.4 percent to 6,252.2 at the close of trade, a second consecutive declining session.
The ASX mining index fell to its
lowest in more than three months as global trade tensions pressured commodity prices.
BHP , the world's biggest miner, posted its lowest
close in three weeks and was the biggest drag on the benchmark.
Rival Rio Tinto fell for a third consecutive session to post its lowest
close in more than four months.
London copper fell on Monday after the dollar rose to a 13-month high against the euro as investors shunned
risky assets and sought safe havens.
Shanghai rebar futures pared early gains to close lower on Friday amid intensifying trade dispute
between the United States and China and worries about slowing growth.
The financial sector added to losses with Australia's "big four"
banks falling between 0.5 percent to 0.6 percent.
Investors are eyeing updates from three of the country's major banks this week after top
lender Commonwealth Bank of Australia warned of slower mortgage growth and last week reported its first fall in annual net profit in almost
10 years.
Some major banks' reputations are in tatters after severe malpractice was disclosed at a Royal Commission public inquiry into
financial sector misconduct.
Across the Tasman Sea, New Zealand's benchmark SP/NZX 50 index fell 0.7 percent or 65.57 points to finish the
session at 8,945.04.
Health care stocks weighed most on the index
Fisher and Paykel Healthcare Corporation was the biggest drag on the benchmark, ending 2.4 percent lower, and Ryman Healthcare slid 1.3
percent.
Fletcher Building dropped 1.7 percent.
