INSUBCONTINENT EXCLUSIVE:
Australian shares ended lower on Wednesday on first trading day of year as a disappointing Chinese manufacturing survey raised concerns
about health of world's second largest economy and Australia's largest trading partner.
The SP/ASX 200 index closed 1.6 per cent lower at
The benchmark ended 0.1 per cent lower on Monday and was closed for New Year's Day public holiday on Tuesday.
Broader Asian risk sentiment
soured after a private sector survey showed China's factory activity contracted for first time in 19 months in December, as domestic
conditions and export orders weakened.
This follows global equities' run lower last year, weighed by concerns about Sino-US trade tensions
and sluggish global economic growth.
Despite occasional relief, such as US President Donald Trump's "long and very good call" with Chinese
President Xi Jinping over weekend, uncertainty about a definite resolution to trade war continues to cloud investor sentiment.
Financial
stocks and miners led main benchmark lower, with sector sub-indexes giving up 2 per cent and 1.7 per cent, respectively.
The "big four"
banks fell between 1.8 per cent and 2.5 per cent
The financial index was among worst hit in 2018 after a national inquiry into sector led to a massive selloff among Australian banks.
Global
miners BHP Group Ltd and Rio Tinto Ltd slid 1.6 per cent and 2.3 per cent, respectively, with China concerns weighing down copper
prices.
New Zealand's benchmark SP/NZX 50 index was closed on Wednesday for a public holiday
The index gained about 5 per cent in 2018.
