[BENGALURU] Mining stocks led Australian shares to their worst session in over seven months on Monday, with investors slashing riskier positions as the growing trade war between the United States and China revived worries about weaker global growth.
Resource stocks, Australia's biggest export sector, bore the brunt of the benchmark's A$37.77 billion loss in market value since Friday's close. The world's biggest miner BHP Group shed 3.6 per cent to close at a near two-month low, while smaller peer Fortescue Metals Group tumbled 7.2 per cent. Australian oil and gas companies also declined, with Santos giving up 2.4 per cent. However, Oil Search closed 2.9 per cent higher after the Papua New Guinea government signalled its backing for a liquefied natural gas deal in which the company is a partner.