Mining stocks top losers Iron ore set to breach $100/mt support...

	  Mining stocks top losers 

	  Iron ore set to breach $100/mt support levels  

	  Woodside drags energy index 

(Updates to close)

Australian stocks closed lower on Friday, dragged by the mining index and energy indices, as disappointing data from its biggest trading partner China weighed on investor sentiment.

The S&P/ASX 200 index (xjo) fell 0.24% to 7,340.1 points. The benchmark had closed at 7,357.4 in the previous session.

A steady U.S. inflation print failed to excite investors, who fretted over the chances of iron ore prices breaching the $100-per-metric-ton level on persisting concerns over the health of China's property sector and steel demand.

Recent data showed the world's second-biggest economy slip into deflation at the consumer-price level.

Australia's metals and mining sub-index .AXMM fell 0.4%, dragged by sector heavyweights Fortescue (FMG) and Rio Tinto (RIO) which shed 2.9% and 0.6%, respectively.

"I think the market is still a little bit nervous with the China data and I think maybe some of the profits that have been made in that sector are being taken off the table," Brad Smoling, managing director at Smoling Stockbroking.

Shares of coal miner New Hope Corp (NHC) which rallied nearly 6% on Thursday, slipped 3.7% on demand worries, pulling down the energy sub-index which fell 1.9%. Whitehaven Coal (WHC) finished nearly 3% lower.

Meanwhile, a slip in oil prices amid fears of waning fuel demand from the world's second-largest economy also weighed on the index, offsetting gains from gold and healthcare stocks.

"China's deflation is an equal concern for Australia as such a meaningful trading partner and a home for most of our commodities," said Damian Rooney, director of equity sales at Argonaut.

Locally, Australia's labor regulator cleared the way for a strike vote at Chevron CVX.N LNG plants, which, if it goes ahead, is expected to impact facilities operated by Chevron and Woodside Energy Group (WDS) .

Shares of Woodside ended down 2%, while competitor Santos (STO) was off 1.6%.

New Zealand's benchmark S&P/NZX 50 index (nz50) rose 0.2% to end the day at 11,811.77 points. (([email protected] ; +91-9167838937 Twitter: https://twitter.com/Aishwaryartrs))