Australian shares slip as commodity stocks drag on China COVID woes


Source: brecorder.com brecorder.com

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Australian shares slipped on Wednesday, dragged down by mining and energy stocks, hit by subdued commodity and metal prices following fresh COVID-19 curbs in China to control rising cases. The S&P/ASX 200 index fell as much as 0.3% to 6584.1 by 0041 GMT. The benchmark lost 1% on Tuesday. Leading declines, energy stocks receded 2%, their biggest drop in a week, as oil prices fell on weak demand in top crude importer China and a strong dollar. Index heavyweights Woodside Energy and Santos shed 3.1% and 2. 7%, respectively. Domestic miners erased as much as 1.6% to hit their lowest...