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2 years ago
Australia shares dive to 7-month low as China currency, metals downgrade weighs
August 12, 2015 / 6:38 AM / 2 years ago

Australia shares dive to 7-month low as China currency, metals downgrade weighs

(Updates to close)

SYDNEY, Aug 12 (Reuters) - Australian shares slumped to a seven-month low on Wednesday as key trading partner China devalued its currency and a reduced forecast for metals prices dragged down resources stocks.

The S&P/ASX 200 index fell 1.7 percent or 91.1 points to 5382.1, its lowest close since Jan. 20. The benchmark has fallen 5 percent so far this month.

New Zealand's benchmark NZX 50 index dropped 1.1 percent or 65.1 points to finish the session at 5757.2. (Reporting by Byron Kaye; Editing by Sunil Nair)

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