Australia: Shares close 2% lower, biggest one-day fall in two weeks

[SYDNEY] Australian shares fell 2 per cent on Wednesday as a slide in oil prices oil sent the benchmark index to its biggest single-day fall in more than two weeks.

The S&P/ASX 200 index fell 2.1 per cent, 104.59 points, to 4875.00 at the close of trade. It fell 0.43 per cent on Tuesday after prices had earlier hit a three-week high.

New Zealand's benchmark S&P/NZX 50 index rose 0.89 per cent or 54.7 points to finish the session at 6,230.37, having earlier hit a seven-week high.

REUTERS