Australia, NZ: Shares hit 1-month lows as banks stumble, NZ up slightly

[SYDNEY] Australian shares slumped to one-month lows on Tuesday, pressured by losses in the financial sector on concerns over rising bad debt, while the New Zealand market edged up slightly.

The S&P/ASX 200 index shed 79.71 points to 5004.50 at the close of trade. The benchmark dropped 1.57 per cent.

New Zealand's benchmark S&P/NZX 50 index rose 0.21 per cent or 13.78 points to finish the session at 6676.33.

REUTERS