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Shares hit two-month on China worries, hot inflation data

Source: afr.com afr.com
News Snapshot:

Elsewhere, weak manufacturing data out of China showed a contraction in activity for a second straight month and added to the gloomy sentiment as the materials sector finished down 2.2 per cent and the energy sector tumbled 2.5 per cent. Safe-haven asset gold added 0.3 per cent to $US1980 an ounce. While benchmark US oil futures fell below $US70 a barrel at $US69.68 in a move traders put down partly to shorter-dated contracts trading at a discount to longer-dated ones as front-month pricing rolls over for month end. Benchmark Newcastle coal futures extended a 12.1 per cent loss on Wednesday…

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