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Australia: Shares close at February lows after IMF cuts growth forecasts

Wednesday, October 8, 2014 - 13:31
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- PHOTO: REUTERS

[SYDNEY] Australian shares fell 0.8 per cent on Wednesday to close at February lows after the International Monetary Fund cut its global economic growth forecasts, prompting investors to seek shelter in safe-haven assets.

The S&P/ASX 200 index lost 42.9 points to 5,241.3 at the close of trade. The benchmark finished 0.2 per cent lower on Tuesday.

New Zealand's benchmark NZX 50 index added 0.2 per cent or 10.2 points to 5,245.9. - Reuters