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Australia: Shares edge down as oil slump hits energy stocks; New Zealand flat

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Australia: Shares edge down as oil slump hits energy stocks; NewZealand flat

[BENGALURU] Australian shares inched lower on Thursday as a slump in oil prices dented energy stocks, offsetting a rise in financials which had gained on heightened expectations of further interest rate cuts by the central bank after bleak employment data.

Oil & gas explorer Woodside Petroleum fell as much as 2.2 per cent, while Oil Search and Beach Energy lost 2.4 per cent and 5.2 per cent, respectively.Data released earlier in the day showed Australia's unemployment rate at 5.2 per cent in May, higher than the 5.1 per cent forecast.

Export-driven healthcare stocks, which have large exposure to the US market, were supported by a firmer greenback.

 

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