SOURCE / ECONOMY By GT staff reporters Published: Mar 04, 2021 09:58 PM
An elephant enjoys at the Perth Zoo in Perth, Australia Photo: VCG
Australia s seasonally adjusted exports of tourism-related services dropped by 10 percent to A$2.25 billion ($1.75 billion) in January compared with December, Australian Bureau of Statistics data showed on Thursday, which experts said reflected a decline in Chinese visitors due to the pandemic and souring China-Australia relations.
In January, Australia s tourism-related services credits fell by A$242 million compared with December, the data showed. The country s total services credits from exports dropped by about 3 percent to A$4.96 billion.
Falling orders from the Chinese market were a primary reason for the drop, with spending by Chinese visitors and students which account for the majority of Australia s services industry in a frozen state.
Asian Markets Mostly In Red
CANBERA (dpa-AFX) - Asian stock markets are mostly lower on Thursday following negative cues overnight from Wall Street as bond yields rose again after trending lower over the past few sessions, fueling inflation concerns. Surging oil prices is also weighing on the market amid speculation that OPEC+ producers might decide against increasing output at a key meeting later today. Asian stocks closed notably higher on Wednesday.
The Australian stock market is lower on renewed selling pressure on Thursday, with the benchmark S&P/ASX 200 treading towards the 6,700 level as investors are cautious following negative Wall Street cues overnight. Precious metal miners are deep into the red after a sharp decline in gold prices.
Retail recovery strengthens but gains are not shared across board miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
Read more about Australia S&P/ASX200 falls 0.8% on Business Standard. At closing bell, the benchmark S&P/ASX200 declined 57.27 points, or 0.84%, to 6,760.71. The broader All Ordinaries dropped 67.22 points, or 0.95%, to 7,000.65.