Australia’s main stock index fell on Wednesday as prospects of a deep global recession and its impact on the demand for crude oil hammered energy stocks and offset better-than-expected trade data from China, the country’s biggest trading partner.
The benchmark S&P/ASX 200 index fell 0.3% by 0039 GMT, with a 3.4% drop in energy stocks weighing the most. If current levels hold, the energy sub-index is on course for its worst day in nearly two weeks.