Aust shares lose steam, dollar drops
The Australian share market has ended lower after giving up early gains as investors remain jittery over prospects of a global recession.
The benchmark S&P/ASX200 index dropped 28.2 points, or 0.43 per cent, to 6,539.9 on Friday.
The broader All Ordinaries lost 26.1 points, or 0.39 per cent, to 6,720.4.
Pressure on demand-tracking commodities such as oil and copper resulted in weakness in the mining and energy sectors, which offset gains in financial, tech and consumer stocks.
Meanwhile, the Australian dollar hit a two-year low of 68.25 US cents against a strengthening greenback at 1610 AEST, down from 68.82 US cents at Thursday's close.