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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)