Australian indexes traded lower after Rio Tinto reported sharply lower production at its copper and iron ore mines. Market sentiment was also weaker after China reported a decline in foreign direct investment.
World markets eased as global economic jitters returned after weak economic signals from China and weaker than expected home starts in the U.S. Crude oil fell after Saudi Arabia pledged to increase supply.
U.S. indexes struggled today but extended the weekly advance extending the rally of the last eight weeks. The euro weakened after Spain raised its budget deficit estimate and German retail sales declined. Japan plans to take control of troubled utility Tepco with $12 billion bailout.
