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Australia: Shares slide to 2-week lows, Myer hit by weak sales

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Australian shares fell 1 per cent on Wednesday, dragged down by a tumble in Myer Holdings and weakness in blue-chip stocks.

[SYDNEY] Australian shares fell 1 per cent on Wednesday, dragged down by a tumble in Myer Holdings and weakness in blue-chip stocks.

The S&P/ASX 200 index closed at a two-week low of 5,463. Myer, Australia's largest department store, was among the worst performers following poor sales. Its share tumbled 8.1 per cent to A$1.76, having touched its lowest in more than two years.

New Zealand's benchmark NZX 50 index set a fresh record high at 5,507.46, but finished the session 0.5 per cent lower at 5,487.88.

REUTERS

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