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Australia: Shares fall as investors cash in on recent rally


[SYDNEY] Australian shares fell on Tuesday as investors shrugged off a rebound in iron ore prices and booked gains after a recent winning streak.

The S&P/ASX 200 index fell 0.6 per cent or 34.2 points to 5948.5 by the close of trade. The benchmark hit a seven-year closing high of 5,982.7 on Monday.

New Zealand's benchmark NZX 50 index edged up 4.2 points or 0.1 per cent to finish the session at 5769.7.