Australia: Shares tumble 2% on China, Greece woes

[SYDNEY] Australian shares fell 2 per cent on Wednesday amid concerns about an equity rout in China and fresh doubts that Greece can reach a bailout deal with Europe.

A weaker dollar and slump in the iron ore price also contributed to the downward pressure.

The S&P/ASX 200 index ended 111.9 points lower at 5,469.5 points at the close of trade. The benchmark has moved more than 1 per cent in either direction in each session this month, reflecting an increasingly skittish mood, and is up just 1 per cent for 2015 so far.

New Zealand's benchmark NZX 50 index fell 0.6 per cent or 35.5 points to finish the session at 5767.7.

REUTERS