(Reuters) - Australian shares sank across the board on Thursday to end at a more than one-year low, with metals and mining leading the descent after Wall Street's biggest daily decline since 2011 set the bearish tone. [MKTS/GLOB]
The S&P/ASX 200 index <.AXJO> fell for a fifth straight session, closing 2.8 percent down at 5664.1. The benchmark was marginally lower on Wednesday.
The Australian metals and mining index <.AXMM> fell 3.5 percent to a more than one-month closing low.
The world's biggest miner BHP <BHP.AX> declined 4 percent to a more than six-month low, while peer Rio Tinto <RIO.AX> fell 4.5 percent.
Iron ore miner Fortescue Metals <FMG.AX> slumped 5.7 percent after it said quarterly iron ore shipments fell 8.6 percent from a year earlier, on reduced demand from China.
Financial shares <.AXFJ> closed 3 percent lower. Among the "Big Four" banks, Australia and New Zealand Banking Group <ANZ.AX> led losses, while the largest lender Commonwealth Bank of Australia declined 1.8 percent.
The country's largest wealth manager AMP Ltd <AMP.AX> plunged nearly 25 percent and was the biggest decliner on the Australian benchmark after it announced the sale of its life insurance arm at a discount.
The sector has been hit hard this year by revelations of widespread misconduct following an inquiry.
Extending significant losses into a fourth session, the energy sector <.AXEJ> closed at a six month low.
Oil and gas producers Woodside Petroleum <WPL.AX> and Santos Ltd <STO.AX> fell 2 percent and 1.6 percent, respectively.
Bucking the trend, gold shares advanced as safe haven bids for the yellow metal saw prices <XAU=> climb towards a more than three-month peak. [GOL/]
Newcrest Mining <NCM.AX> extended gains and rose 0.7 percent, while Evolution Mining <EVN.AX> advanced 0.6 percent.
New Zealand's benchmark S&P/NZX 50 index <.NZ50> fell 0.9 percent or 74.01 points to close at 8568.23.
A2 Milk <ATM.NZ> fell 1.9 percent and medical device maker Fisher & Paykel Healthcare Corp <FPH.NZ> lost 1.6 percent.
(Reporting by Niyati Shetty in Bengaluru; editing by Simon Cameron-Moore)
