Australia: Shares plumb two-week low; NZ shares slip

[MELBOURNE] Australian shares fell 1.4 per cent on Wednesday as concerns over wholesale funding of the country's financial sector pushed the benchmark index to a two-week low.

The S&P/ASX 200 index finished at 5,465.70 points at the close of trade, the weakest since July 20, notching up a loss of 74.94 points. The benchmark fell 0.8 per cent on Tuesday, snapping a six-session run of gains.

New Zealand's benchmark S&P/NZX 50 index fell 0.7 per cent or 51.8 points to finish at 7277.40, its second consecutive decline and the weakest level since July 25.

REUTERS