Australian Shares Fall on Higher Yields, Lower Metals; BHP, Banks Retreat

(Bloomberg) -- Australian stocks dropped, following
declines in markets globally after bond yields gained, increasing
speculation higher borrowing costs will curb growth in the world's
largest economies.

Australia & New Zealand Banking Group Ltd. led declines among
the nation's biggest companies after the yield on the government's
10-year bond jumped, making dividends relatively less attractive.
BHP Billiton Ltd. led a slide among mining companies as metals
prices fell.


Read more at Bloomberg Stocks News