March 16 (Reuters) - Australian shares fell more than 2% on Thursday, tracking losses in global equities as problems at Credit Suisse renewed fears of a banking crisis and dented risk appetite.
The S&P/ASX 200 index fell 2.2% to 6,913.90 by 2355 GMT, hitting its lowest since early January. The benchmark rose 0.9% on Wednesday.
Shares of Credit Suisse tumbled after the lender's largest shareholder, Saudi National Bank, said it could not provide further financial support for the embattled Swiss bank.
The troubles at Credit Suisse followed the collapse of U.S. lenders SVB Financial and Signature Bank, which have sent financial markets on a roller-coaster ride.
Back in Sydney, energy stocks slid 3.4% to their lowest in more than five months, after oil prices plunged 5% overnight. Whitehaven Coal dived 5.4% and New Hope Corp dropped 4.5%.
Miners slumped 3.2%, hitting their lowest in more than three months. Rio Tinto and Fortescue Metals Group fell 4.1% and 3.5%, respectively.
BHP Group fell 4.5% on news the mining group is potentially facing a 36 billion pound ($44 billion) lawsuit in London after the number of claimants in Brazil dam case more than tripled.
Financials dropped 2.3%, with the so-called "big four" banks down between 1.9% and 2.5%.
Gold stocks advanced 2% after bullion prices rallied more than 1% overnight.
In other news, intellectual property services provider IPH Ltd and digital payments firm Latitude Group Holdings reported cyber security incidents. IPH shares plunged 11.8%, while trading in Latitude shares was halted.
New Zealand's benchmark S&P/NZX 50 index fell 0.6% to 11,552.23.
Official data showed the economy contracted in the last quarter as aggressive interest rate hikes by the central bank weighed on investment by businesses and consumer spending.
Meanwhile, shares of Fonterra Shareholders' Fund surged as much as 9.8% after the dairy giant reported a 50% jump in first-half profit.
(Reporting by Poonam Behura; Editing by Subhranshu Sahu)
