Meanwhile, New Zealand also felt the impact of the pandemic, recording a 1.6 per cent contraction in economic growth in the March quarter, the largest drop in 29 years.
Investor confidence was further shaken by a rise in new infections across the world with the worldwide cases crossing 8.36 million. Mining and material stocks dropped the most, posting a 1.3 per cent decline with iron ore miner Fortescue Metals Group losing 4.2 per cent amid volatility in the prices of the steel-making commodity.Shares of Ampol were down 2.4 per cent, while Viva Energy Group lost 1.7 per cent.
New Zealand's benchmark S&P/NZX 50 index dived 1 per cent to finish the session at 11.225.28, with new Covid-19 cases in the country adding to the dour sentiment. The top percentage losers in the benchmark were Tourism Holdings, down 6.5 per cent, followed by Air New Zealand losing 5.7 per cent.For daily updates on weekdays and specially selected content for the weekend. Subscribe to
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