Australian shares declined in early trade, tracking a fall on Wall Street, as hopes for a year-end rally faded with renewed concerns about global growth.
Oil prices fell on worries over a surge in COVID-19 cases in China, the world’s top oil importer, outweighing the chances that easing pandemic restrictions in the country will boost fuel demand. Lithium miners were mixed with shares in Mineral Resources down 2 per cent to $76.70, Liontown Resources up 0.4 per cent to $1.23, and Pilbara Minerals down 0.4 per cent to $3.64.Battery technology company Novonix bounced 4 per cent to $1.45 after suffering a sharp drop in the previous session on talks Tesla was planning to temporarily halt production at its China factory.
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