SYDNEY: Australian shares closed lower for the fourth straight session on Thursday as sentiment remained fragile following the rapid spread of the coronavirus, with the country kicking off emergency measures to contain the outbreak.

The S&P/ASX 200 index slipped 0.8%, or 50.20 points, to 6,657.90 at the close of trade. The benchmark has tumbled 6.7% this week through Thursday’s close, wiping out about A$152 billion ($100.26 billion) in companies’ market value.

Prime Minister Scott Morrison on Thursday became one of the world’s first leaders to acknowledge the threat of the virus spreading beyond global containment efforts.

Shares of the “Big Four” banks declined between 1.4% and 2.1%, with Australia and New Zealand Banking Group falling the most.

Energy stocks declined 2%, as oil prices plunged to their lowest since January 2019. Shares of Worley Ltd dropped 2.8%, while those of Oil Search fell 2.9%.

Healthcare stocks were a bright spot. Benchmark heavyweight CSL Ltd gained 2.2%, snapping a five-day losing streak.

Gold stocks rose 1.9% as virus fears boosted demand for the precious metal, with the country’s biggest independent gold miner, Newcrest Mining, gaining 1.3%.

Shares of Northern Star Resources rose 3%.

Separately, shares of Afterpay Ltd closed 1.4% up after a choppy session.

The buy-now-pay-later firm reported a bigger-than-expected half-yearly loss, but recorded a five-fold jump in US underlying sales. Meanwhile, Malaysia licence win helped earths explorer Lynas Corp snap three sessions of losses and climb 5%.

Across the Tasman Sea, New Zealand’s benchmark S&P/NZX 50 index fell 0.8%, or 96.69 points, to finish the session at 11,437.17. Shares of Fletcher Building shed 2.6%, while those of Air New Zealand slipped 1.3%.—Reuters